The Auron MacIntyre Show - The Myth of the Free Market？｜ Guest： Academic Agent ｜ 1⧸3⧸23

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00:00:49.280 OurUDGADE SHADOW.

00:00:55.100 Thank you.

00:01:25.100 Hey, everybody. How's it going? Thanks for joining me this afternoon. Got a great stream with a great guest. I think you're really going to enjoy.

00:01:38.960 We're going to be talking about a topic that I think for a lot of people is really near and dear to kind of their political ideology and the way that they understand the world.

00:01:48.380 But my buddy Academic Agent has been talking about this a lot recently, and he's someone who's incredibly knowledgeable in the area.

00:01:54.620 So I wanted to bring him on. He's a YouTuber. He's an author. Just had his book Populous Delusion to come out last year.

00:02:02.120 It's excellent. You should check that out. Academic Agent, thanks for coming on, man.

00:02:06.980 Yeah, thanks for having me, Auron. And I feel very trendy with your cool outrun intro.

00:02:14.440 You know, I'm not as cool as Auron, as you'll find out very quickly.

00:02:19.920 We're on the bleeding edge over here of culture.

00:02:23.240 I just wanted to say, you know, for those people who don't know me, a little bit about my, I guess, background before coming to my current views.

00:02:36.500 And, you know, I was, broadly speaking, on the free market end of things.

00:02:43.880 I, not yet, I mean, you know, I went to the Mises Institute.

00:02:48.640 You know, I took part in the, I had various scholarships.

00:02:51.960 I got two FA Hayek Awards and wrote a book called The Defenders of Liberty, essentially defending the free market back in, it was a couple of years ago now.

00:03:06.520 I think it came out in 2020, that book, but I wrote it a couple of years before that.

00:03:11.140 There's usually a lag with these things.

00:03:12.280 So, the reason I'm putting that up front is because when you present these sort of arguments, in my experience, some people who are libertarians will accuse you of kind of not knowing the material.

00:03:28.200 You know, I've read all of Human Action.

00:03:31.280 Not only that, I published on Human Action.

00:03:34.680 Or, I don't know, I wrote about the Manchester School.

00:03:38.180 I even wrote about the little lone London school in that book.

00:03:45.900 Economists, people have long forgotten, like, you know, Hutt and many others.

00:03:54.320 We don't need to get into them at all.

00:03:55.680 Edwin Canan.

00:03:59.060 You know, so I was pretty, like, to say I was pretty into economics and free market economics would be an understatement.

00:04:06.660 And I'm still a member of various free market groups, including the IEA here in London, which some people may have heard of.

00:04:17.780 And I'm still friendly with the guys from the Music Institute as well.

00:04:21.020 But I've always been a realist, first and foremost, Auron.

00:04:27.480 And rather than an idealist or somebody who, like, stands for, like, some abstract ideal, like, freedom or something like that.

00:04:35.860 And when you look at the real world and you look at the facts in front of you, it's very difficult to maintain.

00:04:41.440 In fact, I think it's very difficult to maintain a kind of absolute free market position in the face of the reality we've all lived through in the past few years.

00:04:52.100 And, I mean, I don't know if you want to go through these points one by one.

00:04:58.520 But, I mean, you know, when we're in 20, it's 2023 now, when we're in this sort of era and you see guys from, you know, Reason Magazine or the Cato Institute or some other Koch Brothers funded think tank calling Ron DeSantis evil because he dared sanction Disney.

00:05:24.760 Right.

00:05:26.100 It's not just tap the sign, Auron.

00:05:29.340 It's like, what's going on here?

00:05:31.460 These people are meant to be, like, this is what we're for now.

00:05:34.560 We're for the rights of, like, massive public companies like Disney to just have carte blanche to do what they want to children.

00:05:44.700 So I actually think that it's quite difficult to maintain that absolutist libertarian position in the just in the face of the reality that we live in.

00:05:58.780 And what I'm hoping to do on this show is basically just to remind people of some of those things, regardless of if they're free marketeers or not, or they're conservatives, wherever they're coming from.

00:06:12.540 I just think that we have to address the situation as it really is today.

00:06:20.940 And I think one of the problems on our side in general is that far too many people just, they live on copium, you know, they just live on cope.

00:06:30.840 And that's how they get through week to week, just telling themselves things that are lies to make themselves feel better.

00:06:39.400 Meanwhile, things get worse every single year.

00:06:43.320 We lose that much more.

00:06:45.340 The slippery slope remains the undefeated champion.

00:06:47.820 And yet, you know, I still see it every single day.

00:06:51.380 Go woke, go broke.

00:06:52.780 And all these other copes that people tell themselves.

00:06:56.660 Well, we'll get into them one by one.

00:06:59.020 Yeah, I'm glad that you went ahead and established kind of your bona fides there, because I was going to ask you to do that anyway.

00:07:05.480 I think it's really important for people to understand that, you know, you are an academic, somebody who has been a professor, like you said, you've published papers and this kind of thing.

00:07:14.300 And you have what I think is very fairly described as an expert level grasp of Austrian economics.

00:07:21.700 So when you come at this, you're not some, I see some people, oh, you're a commie now, right?

00:07:25.940 Like you're not some Marxist, you're not some radical, you know, leftist.

00:07:31.500 You're not someone who just stumbled into this discipline from another one with absolutely no background.

00:07:38.300 Like you said, you have a very good grasp and have been very firmly on that side.

00:07:42.460 And I think one of the things I wanted to establish on this is this is a big problem I had with formalism, which is like Mitch's Smallbug's idea, right?

00:07:50.680 I kept saying, why would you want things this way? And then it was it was one of the early NRX guys who helped me understand.

00:07:58.560 He's like, he's not advocating for it. He's simply stating a fact of reality.

00:08:02.900 And you sitting around and wanting your ideology to make it something else doesn't change the situation.

00:08:08.700 I think this is a similar case with the free market. You're not here advocating for, you know, central government top down control of economics at every stage or something.

00:08:18.920 You're simply noticing the facts on the ground and saying we can wish for a dream where the state is completely removed from the economic process.

00:08:28.440 But in the real world, we never truly achieved that. Right.

00:08:33.220 Yeah. I mean, I think the the line from Machiavelli is the one I would always point to.

00:08:40.040 We write as the word, you know, we write about the world as it is, not how it ought to be.

00:08:46.060 And I mean, you know, when we're facing the situation we are now, you know, having somebody just come up with like, oh, well, in an ideal world, there wouldn't be any, you know, corporations or in an ideal world, there wouldn't be any state doesn't actually help.

00:09:09.160 It's just like, OK, you can you can be right in your head.

00:09:11.640 This is something our buddy P. Quinona says quite often. Right.

00:09:15.100 It's like, well, you can be right in theory.

00:09:18.140 In the meantime, what's actually happening here?

00:09:22.500 You know, so, yeah, I think it's if you're not facing reality, then you're not actually even in the right in the right game.

00:09:36.880 Especially when our opponents, by which I mean the left or the radical left, if you want to put it that way.

00:09:46.760 Now, you might you might think, hold on a second, academic Asian. 0.98

00:09:50.460 These people don't live in reality. They don't know the difference between a man and a woman. 0.98

00:09:53.740 Right. But in so much as they understand power, they do.

00:09:58.720 They do live in reality. Right. And if the left understand one thing and one thing only, it is the nature of power and how to achieve objectives using power.

00:10:13.100 And I mean, I don't want to I don't want to say that libertarianism has been like a side off or something like that.

00:10:22.280 But but I do think that it's it's it's trying to fight with like two two hands behind your back while your opponent is like bringing guns.

00:10:32.240 This is that's how I would describe it. You know, it's like you're not even bringing a knife to the fight.

00:10:38.400 They've got bazookas on the other end and you're just kind of like literally standing there with your chin out ready to be punched.

00:10:45.040 So anyway, let us dig in here. Yeah.

00:10:52.680 Well, and I think it's really important, you know, with with libertarian thing to say that as is so often the problem with so many of kind of these right wing ideas or, you know, in general, these ideas, it is the it's the maximization of the principles of problem.

00:11:09.940 So you might have the fact that like and we'll get deeper into this, but you might have the fact that generally the government not constantly interfering with price signaling and everything else that comes through the market is a good idea for your country in general.

00:11:26.980 It is a general good guideline for how you should run it. But the maximization and unilateral disarmament that the right turns this into, especially libertarians, is I think what makes it more more dangerous.

00:11:40.240 But that said, let's let's go ahead and get into your points here.

00:11:44.140 I'm going to we're going to run through these.

00:11:46.000 I'm going to present some challenges I've heard other people bring so that you can kind of answer those properly and ask you some questions I have, because these are generally along my lines.

00:11:55.400 I'm a more and less in agreement with a lot of these objections, but we'll kind of guide the discussion that way.

00:12:01.500 So myths of the free market. The first one here is there's never been and can never be a state of affairs that is pre-political.

00:12:10.260 As such, there will always be a set of rulers who will 10 times out of 10 intervene in the business and resources of resource allocation.

00:12:19.340 You've got Moscow Pareto here. You could probably go ahead and stick Schmidt or.

00:12:25.680 Yeah. And a point a point I didn't make in there regarding Schmidt in particular, I just didn't have room really to add it all in.

00:12:36.440 Right. But Schmidt would say that it is the exception that is the thing of interest.

00:12:44.420 That's right. Not the norm. Now, you can have a situation where the government does not usually get involved in certain things, but does get involved in the in the exception.

00:12:53.920 OK, and everybody's mind will go to things like, I don't know, a famine occurs or I don't know.

00:13:02.380 I mean, something like COVID-19, for example.

00:13:06.980 Yeah, it's a really good example. Yes.

00:13:09.840 And that's really where you where you can.

00:13:14.640 See the system of power that is actually in place as opposed to the one that is theoretically in place.

00:13:22.280 So that's just a little caveat I'd make there.

00:13:25.980 Yeah. I mean, any any questions about that? Does anybody disagree with this idea that the human is the political animal and as such, there is no outside of power?

00:13:35.240 There is there is always something approximating what we call the state.

00:13:40.040 I think, though, the issue that people might come up with here would be something to the effect of, well, there is a yes, but there is this public private distinction.

00:13:48.940 Now, both of us have talked a lot about this. So so I think we can both kind of we might dismiss it easily.

00:13:55.020 But I think this is the objection a lot of people would come up with is, yeah, there is.

00:13:58.620 But but the public and the private should be separate and the state should be bound and not enter into the market and involve itself with this.

00:14:09.240 I mean, my general response would be, you know, how how naive do you have to be to believe that a group of people who have the monopoly on violence won't in some way involve themselves in manners of economy?

00:14:23.840 But maybe you want to answer that a little more.

00:14:29.220 Well, I mean, exactly what you said, Aaron.

00:14:31.660 OK, fair enough.

00:14:32.280 You know, I mean, not just economy.

00:14:34.300 Well, how about like, you know, putting a needle in your arm or, you know, yes, you know, forcing forcing your children to go to school?

00:14:44.660 I mean, nobody basically nobody has the right to not send their kids to school.

00:14:49.700 It's been mandatory for over 100 years.

00:14:54.280 I mean, this is this is one of those things that is now taken as being so normal that nobody really questions it.

00:14:59.620 But once upon a time, it wasn't mandatory for kids to go to school.

00:15:03.720 Yeah, it's it's really interesting how often people will just normalize massive expansions of the state and still pretend like there's this free market or or certain constitutional restrictions are still in place.

00:15:18.720 Right. Like we still do this in America.

00:15:20.600 We have a 10th Amendment. 0.96

00:15:22.400 It's been dead since at least the Civil War.

00:15:25.560 And yet everyone's still kind of like, yeah, no, there's there's this thing going on.

00:15:29.520 Like the states have these powers.

00:15:32.320 You know, we just kind of continue to play this game.

00:15:34.600 And so I think it's a good good to point out, like these areas in which the government has kind of captured this power.

00:15:40.540 That power is assumed to be normal and natural.

00:15:43.220 Conservatives will, of course, conserve that power.

00:15:45.500 In fact, during COVID, they fought very aggressively to get their kids back into government mandated indoctrination centers as aggressively as possible, even though that is a representation of the government forcing its way into it should be a more free market type environment.

00:16:03.000 Yep.

00:16:05.000 Yep.

00:16:05.840 All right.

00:16:07.580 So, yep.

00:16:08.540 Number two here.

00:16:09.440 The will of the stock market reflects neither the needs and wants of consumers nor the allocations of resources that reflect the underlying fundamental performances of the companies represented by equities.

00:16:22.700 Yeah, I mean, there's a there's a fundamental disconnect between the stock market and the incentives of the stock market, much of which is based on speculation, frankly.

00:16:36.320 And what we might describe as the real economy.

00:16:41.900 And people actually experience this in all sorts of hidden ways.

00:16:45.880 Like I remember there was a there was a much loved chain like shop in this country called Woolworths.

00:16:55.700 I think that's a Woolworths in America as well.

00:16:57.680 Right.

00:16:58.880 But there was once.

00:17:01.120 But this was like a shop that sold like it just sold a bit of everything, like some toys.

00:17:06.320 CDs, kind of pick and mix suites, things like that.

00:17:11.060 And suddenly one day it all closed down.

00:17:15.280 Now, Woolworths had not been like selling bad, like its actual sales figures, its fundamentals were good.

00:17:20.800 Right.

00:17:21.620 But what had happened is that some group of investors had bought the company and just saddled it with tons and tons of debt.

00:17:31.320 And and then it defaulted on its debts and had to close down.

00:17:36.320 You know, you can see how finances cause this like the financial world cause this store to shut.

00:17:45.180 It was nothing at all to do with, you know, the people like buying and selling goods, consumer goods.

00:17:53.880 And this is just one of many examples that you could give of the real economy and the financial economy having almost nothing to do with each other.

00:18:05.240 I mean, 2008.

00:18:06.520 Yeah.

00:18:06.780 2008 would be another classic example, I suppose.

00:18:09.620 Now, I think a lot of people would probably come back to that and say, well, but that's an example of one aspect of a free market impacting another.

00:18:17.980 That's not an aspect of the government.

00:18:20.140 Right.

00:18:20.560 That's not an aspect.

00:18:21.800 That's not state intervention, though.

00:18:23.920 I think you'll answer that more in the next one here.

00:18:27.000 In the very next point.

00:18:27.880 Yes.

00:18:28.260 Right.

00:18:28.600 Yeah.

00:18:28.820 So let's just move on to that one and then we can kind of tackle that whole issue together.

00:18:32.580 So number three here says the public company created by the IPO is a product of law, not of free market transactions, and is therefore a function of the state.

00:18:44.720 The private public distinction is lost as soon as this takes place.

00:18:49.360 Yeah, and that's in a book called Nemesis by C.A. Bond.

00:18:55.680 Good luck getting hold of that one, by the way.

00:18:58.640 You actually did a stream with him.

00:19:00.060 It's in the back catalog.

00:19:01.580 You can find it.

00:19:02.900 Yeah.

00:19:03.660 So, I mean, this is something that's often not grass, but as soon as a company floats itself and goes public, you know, anybody can buy shares, you know, stocks in this company now.

00:19:19.600 It is subject to a whole lot of rules and regulations that a private company is not subject to.

00:19:27.260 And it's subject to managerial oversight as well, which we'll get on to.

00:19:34.880 This is actually the, how can I put it?

00:19:41.560 You have a book coming out, Aaron, called The Total State, right?

00:19:44.940 I have talked about, I have also talked at other times about something I call the octopus, which is this kind of interconnected leviathan.

00:19:54.900 But I think Total State gets the idea across pretty well.

00:19:58.460 Essentially, what happens when a company goes public is that it is more or less formally joining the total state under law.

00:20:10.320 There's also a whole set of, I mean, regulations that dictates who it is who can issue those bonds.

00:20:22.980 It's typically done by an investment bank, you know, Goldman Sachs or JP Morgan or one of these kind of massive investment banks.

00:20:32.200 Do you think, like, if you and I really wanted to get together, we could set up, like, a right-wing investment bank?

00:20:40.860 No, it would be immediately raided, yeah.

00:20:43.920 Just set up your own JP Morgan, you know?

00:20:46.280 Right, yes.

00:20:47.020 Maybe once upon a time that would have been possible, but it's basically, you know, there are 10 of these massive ones, you know, in Germany, there's Deutsche Bank, there's UBS, I think it's on the continent as well, you know, Morgan Stanley, Bank of America, Maryland.

00:21:11.920 I mean, there's just Barclays, Barcap is another one, Barclays Capital, and if you have a look on the books, they're basically just the same banks as they've been for the last hundred years.

00:21:23.880 I don't know when the last established investment bank was, but this is the mechanism through which companies, you know, get listed as IPOs.

00:21:36.820 So, it is also the mechanism through which, for example, the Federal Reserve or the Bank of England may release bonds onto the, you know, onto the market.

00:21:52.240 That's another one of the jobs that they do.

00:21:55.580 Do you remember all that stuff about QI?

00:21:58.840 Quantitative easing.

00:21:59.700 I mean, quantitative easing would be done, you know, via these various investment banks.

00:22:06.960 So, the extent to which the investment bank can be separated from the state is, you know, it's tricky.

00:22:20.100 They also have a lot of robust rules, investment banks, for how they are allowed to keep their own assets on their balance sheet.

00:22:34.140 So, there are all sorts of rules, you know, MIFID II and Obama passed a big one, I seem to recall.

00:22:42.920 What was it called?

00:22:43.920 Dodd-Dodd-Frank or something like that.

00:22:45.680 But what these do is they basically say, well, if you're Goldman Sachs, you have to hold a certain amount of money as, you know, this sort of asset.

00:22:57.680 Another, you know, another percentage has to be held as this sort of asset.

00:23:02.100 And they basically tell them, well, a certain percentage of that has to be U.S. Treasury bonds, for example.

00:23:08.320 Or in this country, it would be a certain percentage has to be gilts, for example. 0.51

00:23:12.580 Right. So, you can see how there's actually quite a lot of constraints on what investment banks can do.

00:23:21.440 You know, I say it's difficult to say how independent the investment bank is from broadly what you'd call power.

00:23:31.280 It's just part of the same beast.

00:23:32.680 So, when a company gets listed like this, they also become part of this broad network, I would say, a function of the state.

00:23:45.460 And it brings us on to the fourth point, right, if you want to read that.

00:23:49.400 Yeah, absolutely.

00:23:50.080 And right before we move on here with the fourth point, I just want to point out something I want people to keep in mind as they're going through this is the aspect of massification, right?

00:24:00.420 A lot of this is, and we're going to get to it because you kind of have several points that overlap this in your list of 12.

00:24:09.240 But the fact that all of these organizations have grown so large and they have such a grasp of control on their markets that the only way to be competitive is to basically join yourself to the state.

00:24:24.700 There is no way to generate the kind of capital, generate the kind of investments necessarily, get through the regulations, comply properly, all these things, unless you are basically part and parcel with the state.

00:24:37.760 And so, I think this is the first point that kind of makes that, but we're going to see that kind of work its way through many of these.

00:24:45.880 It's also worth asking the question, like, why would anybody become an IPO if they give up all this power of control just by listening to themselves, right?

00:24:57.000 Why would somebody like Elon Musk do it, for example?

00:25:00.820 But that is the only way you're going to generate billions upon billions of dollars of capital.

00:25:07.760 That's necessary to break in those markets, yeah.

00:25:09.980 It is by issuing stock.

00:25:12.720 Yes, you can get so far with private investments or sometimes you can get state-backed grants as well.

00:25:21.800 You know, I know the Tory party in this country are fond of, you know, giving backing to new firms, new startups and things like that.

00:25:29.740 But at a certain point, the only way to go to the next level, to go from being a kind of exciting new firm to, you know, one who's able to expand massively is by going public.

00:25:49.140 And an interesting example of where this actually went a little bit wrong is Twitter, speaking of Elon Musk.

00:25:57.280 Twitter under Jack Dorsey, as I understand it, went public.

00:26:02.140 I mean, they never turned a profit, which we'll get onto in a second.

00:26:04.780 Yeah.

00:26:04.860 And he, and Dorsey basically expanded Twitter too fast.

00:26:11.520 Right?

00:26:12.460 Like, that's why, I mean, yes, based Elon Musk for firing all the leftists and all that, but there was actually like a real business reason to do it as well.

00:26:21.840 Dorsey just hired way, way too many people. 0.91

00:26:24.700 The team was extremely top heavy.

00:26:26.700 There was loads of managers, right?

00:26:28.340 There was loads of functions and things.

00:26:30.440 And the company didn't actually make any money at any point.

00:26:32.940 Yeah, Musk fires 80% of the, of the staff, you know, all of blue check Twitter is saying their goodbyes because obviously Twitter will shut down tomorrow.

00:26:42.260 It's impossible for it to operate without these people.

00:26:44.820 And it's been running just fine since.

00:26:47.080 So, so, so in a strange way, Musk is one of the few cases where we've seen this happen in reverse, right?

00:26:54.020 Musk has taken Twitter from being a public company back into being a private company under what we might call executive entrepreneurial control.

00:27:05.960 But this is extremely rare.

00:27:09.960 And as we'll get on to, Musk still has a vulnerability because his biggest company and the one that has made him the world's second richest man or up until a couple of weeks ago, he was the first richest man, right?

00:27:25.040 He has a vulnerability because that is a public company, Tesla, right?

00:27:31.660 You can buy stocks in Tesla.

00:27:33.660 And as we'll, as we'll get on to, you know, a lot of people are saying, well, how are they going to get Elon Musk now?

00:27:40.820 Will it be Joe Biden?

00:27:41.980 Will it be the FBI?

00:27:44.040 I actually, I actually think it'll just be the financial world.

00:27:46.420 We'll be able to, they can just crash Tesla whenever they want. 0.72

00:27:50.520 Scuttle this, yeah.

00:27:51.420 Because they, because they built, like, they also built Tesla, if that makes any sense, which we'll also get on to in a moment.

00:28:00.480 I'm not dissing Tesla or anything.

00:28:01.720 I'm just saying that, you know, it's probably been overvalued for many, many years.

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00:28:37.300 All right, well, let's jump into number four because I interrupted you there to make that point.

00:28:40.840 So we'll keep it moving here.

00:28:42.300 So number four is very interesting because I've heard a couple of different people push back about this one.

00:28:47.700 So we'll probably spend a little bit of time with it.

00:28:49.600 Mass shareholders lose functional control over companies to the managerial class, according to the Iron Law of Oligarchy.

00:28:56.600 The organization is oligarchy, McHale's, who no longer run it for profit, but rather for the expansion of managerial power.

00:29:07.720 Now, this is something that both you and I have talked about.

00:29:10.180 This is a key aspect of James Burnham's work.

00:29:12.480 And it's a big issue as to, you know, this is part of the third law of Robert Conquest's laws of politics.

00:29:23.820 And so this is something that's really central to a lot of things we've talked about.

00:29:27.160 But the people who I've heard challenge this idea, the managers wrest control of the company away.

00:29:33.680 I've heard people like Tho Bishop come up against this.

00:29:36.980 I've also heard actually Moldbug himself, you know, Curtis Yarvin said that actually Burnham's worst book is the managerial revolution.

00:29:45.080 And he doesn't believe that the managers ever wrest control away from the CEO.

00:29:50.420 So what would you say to people who say this is bad analysis, the CEO or the owners at the end of the day always actually control the company?

00:29:57.240 Well, the first thing I'd say is that the CEO, in many cases, is a manager.

00:30:04.320 Right, right, right.

00:30:05.180 We're talking about the difference between Elon Musk, say, as the Twitter boss, right, who is the CEO of Twitter.

00:30:15.880 But he's also effectively the executive, right?

00:30:19.160 He is the 100% owner of the company.

00:30:21.920 Another example would be, I don't know, like back when he was alive, Henry Ford or Vince McMahon for many, many years was the man, right, who ran WWE wrestling.

00:30:37.440 Okay.

00:30:37.600 Yes.

00:30:37.820 Versus somebody like Eric Schmidt, who is the CEO of Google or Tim Cook, right, at Apple, who is a hired manager.

00:30:54.140 He has the title CEO, but he's still a manager.

00:30:57.840 And that's the real difference.

00:31:03.960 It is whether the person is essentially a kind of monarch within the company who owns it outright and has the final say on things and the CEO who himself could be hired and fired.

00:31:21.020 And, I mean, when a company becomes public in this way, they have to, by law, appoint a board of governors who are responsible for reviewing the executive board.

00:31:39.860 I don't want to get into the weeds too much, but you're familiar with this process, right?

00:31:43.540 There's a board of governors who are typically people from other companies or professionals, you know, who don't actually work for, you know, whatever the company is.

00:31:57.020 And they have oversight.

00:32:01.140 They can review the pay.

00:32:02.400 They can make recommendations.

00:32:04.440 And if the CEO is really kind of out of line or whatever, they can even make a recommendation for the CEO to be replaced.

00:32:13.540 They have to be voted on by shareholders, okay, that board of governors.

00:32:22.260 Now, in practice, I'm just trying to think of the sorts of points our buddy Tho Bishop might make.

00:32:29.080 And I remember I worked on a report once on Peter Thiel's company, which is called Palantir.

00:32:37.800 You familiar with that?

00:32:38.520 Yes.

00:32:39.000 It's actually responsible for a scary amount of, like, U.S. security and cybersecurity and stuff like that.

00:32:46.720 I mean, Peter Thiel is just an incredibly powerful guy.

00:32:49.960 But, like, for example, Peter Thiel is clever, and he's made it so he's effectively irreplaceable in that company.

00:33:01.560 Like, he's got, like, he's made it so that his votes, for example, on Magic, he can, like, if it was put to the vote, oh, let's get rid of Peter Thiel.

00:33:13.580 He could just kind of veto it with his, like, magic votes.

00:33:17.280 And there's certain other things, like, within the terms and conditions, it's like, oh, you can't actually, like, replace the CEO and things like that.

00:33:31.080 And there's all sorts of other weird things, like his technical pay is zero and things like that.

00:33:36.000 So there are ways and means that.

00:33:38.800 I mean, Malberg may have stuff like that in mind, given that he's kind of in with that set, right?

00:33:44.000 He's probably seen, probably talked to Peter Thiel, and he's like, and Peter Thiel's like, yeah, well, that's bollocks because look at the what I've done type thing.

00:33:51.920 But.

00:33:52.020 That's, that's not how the average company is constructed, right?

00:33:56.000 I mean, in a way, Peter Thiel's still quite close to his own company, right?

00:34:00.900 This would be like if Walt Disney or Henry Ford was still alive.

00:34:04.940 The question is, well, what happens to that company 10 years after Peter Thiel's dead, right?

00:34:11.220 Like, can you, you know, let's take Henry Ford as an example, right?

00:34:16.020 What happened to Henry Ford and the Ford Foundation and the Ford Motor Company?

00:34:19.500 Did it stay true to the values of Henry Ford?

00:34:23.440 Probably not.

00:34:24.340 No, no, no, it didn't.

00:34:25.480 I mean, you know, Henry Ford was conservative.

00:34:28.100 The Ford Foundation are the biggest, one of the biggest founder, funders of LGBT activism and left wing activism in the country and have been since the 1960s.

00:34:40.120 As an example, I'm just showing how ownership and control aren't the same thing.

00:34:46.300 And as soon as you allow the managers in, it's only a matter of time until control is wrested away from the original owner.

00:34:57.360 I mean, we mentioned Vince McMahon.

00:34:58.820 It's even happened to Vince McMahon.

00:35:00.260 Even somebody as a control, you know, a control freak like Vince has still managed to lose control of his own company within his life, within his lifetime.

00:35:12.380 You know, they got him through a sex scandal.

00:35:14.800 And because the WWE is a public company now, they have all sorts of oversight that, you know, he just can't get away with it.

00:35:22.140 He used to when it when it was his when it was just his.

00:35:24.620 So now somebody else is running things there.

00:35:30.520 And I mean, you know, let's just say, do you think it's going to say it's true to his values or is it going to get more woke?

00:35:38.180 Is it going to get more politically correct?

00:35:40.320 Is it going to come in line with the rest of the culture?

00:35:44.020 It's going to return to room temperature as soon as it's the hand of a decisive individual is off the leadership of the company.

00:35:50.720 Right. And in fact, if people read the populist illusion, I actually give many cases of the actual founder owner of a company being fired.

00:36:02.040 I mean, the famous one was Papa John's Pizza, right?

00:36:06.100 He was fired from his own company.

00:36:07.840 And he's the face of the company.

00:36:09.320 He's not like some random guy who operated the company that no one knew.

00:36:12.840 It's named after he's on all of the commercials.

00:36:16.880 Like he's the guy on the side of the box.

00:36:18.480 Like he's the guy in the way that Colonel Sanders, you know, was Kentucky fried chicken and he got fired.

00:36:24.680 Yeah. So there are there are lots of examples like that.

00:36:28.660 I mean, you know, you can pick your own ones because there's there's literally hundreds to choose from.

00:36:34.560 So so I would I would I would say, yes, there are loopholes that somebody really clever like Peter Thiel would know how to leverage.

00:36:42.800 So one of the really funny things about that report I did is that under California law, you have to have a woman as one of your board members.

00:36:54.300 Peter Thiel just like has some random journalist on there who wrote a book about him.

00:36:59.120 I was hoping you were going to say that he changed his gender identity to meet the standards. 0.96

00:37:04.400 But yeah, no, that's that's the other.

00:37:05.860 I mean, what I'm saying is he's got like he's just got like a lackey who has no business acumen, no business history.

00:37:13.520 No, like I mean, usually if you're a if you sit on the board of governors, you have to have like a 20 year career as a C level executive or something like that.

00:37:22.820 But he's just like stuck flunkies on there just make it the most affirmative action higher possible.

00:37:28.200 Don't even I mean, it's a pretense.

00:37:31.300 If people want to laugh, they should go to the Palantir website and have a look at their board of governors.

00:37:36.740 But anyway, yes.

00:37:40.900 So, yeah, there could be a couple of exception individuals like that.

00:37:44.680 But I would say that he is much more the exception rather than the rule.

00:37:49.000 So, you know, and I'd say 90 percent plus, especially like household name companies, the ones, you know, Coca-Cola or something.

00:37:58.320 I mean, these are so far removed from the original visionaries who set them up that they were long, long ago captured by by the managers.

00:38:08.560 And I mean, the evidence that this is true is in all of the bloat that you see in those companies.

00:38:15.140 Right. I mean, does anybody really think that Coca-Cola needs like a massive diversity and equality division that drives the bottom line?

00:38:24.740 That's for profit.

00:38:25.680 I mean, it's not I mean, you can see with a lot of the decisions they make, it's not for profit, although that there is a there is a bottom line when it comes to diversity.

00:38:39.300 There is a financial reason to do it, because, of course, they get sued by anybody in America who claims discrimination.

00:38:46.920 That's an automatic lawsuit. I mean, I think the famous case was when those two homeless guys were like sitting in Starbucks.

00:38:57.800 Yes. Yeah. And I mean, that was a lawsuit.

00:39:00.480 Yeah. Right. So so there there there is a money factor there.

00:39:05.800 But it's not it's not it's not only that right there are you have to look at the incentive of the manager on the ground.

00:39:15.880 And I think anybody who's ever worked in a big company, I'm talking like a kind of, you know, blue chip company, I guess you'd call it, would would know of entire departments and divisions that exist for their own expansion, not for bottom line profit.

00:39:34.520 Right. Well, and and I think it was Mike of Imperium Press who did the the video making a really interesting point about diversity inclusion departments as regulatory capture.

00:39:45.640 Right. Like most people are familiar with the concept of regulatory capture.

00:39:48.960 I think the idea that that big companies actually want a number of regulations because small companies can't keep pace.

00:39:55.100 And that means that they can't actually like be upstart competitors and the big companies have a massive advantage.

00:40:00.460 So they're fine with the government regulation because they can comply.

00:40:03.580 And that's also true of diversity, equity and inclusion.

00:40:06.800 If you have to have X number of people of different races or, you know, gender ideology or whatever on your board or in positions of power, your company.

00:40:15.700 And there are only only so many people actually capable of, you know, doing that job in those specific demographics than being the large company that can hoover up those people and staff those positions creates a form of regulatory capture for your company.

00:40:31.660 Yeah, there's a guy in the chat saying the FCC will not issue a license unless 33 percent of your employees are minorities.

00:40:38.380 So there you go.

00:40:39.580 Well, let's go ahead and pivot to five here because this dovetails with four.

00:40:43.940 To compound this, limited liability laws remove accountability or material feedback for managers and employees of every large form.

00:40:52.160 I feel like this one's pretty straightforward.

00:40:54.160 But, you know, if you're a manager, you're not going to go bankrupt because the company did something wrong, right?

00:40:59.720 Yeah.

00:40:59.960 And even more importantly, you may not even go to jail.

00:41:02.680 Even if you I mean, I think there's probably some sort of threshold for criminal negligence, criminal negligence or something like that.

00:41:12.700 But I think that threshold is pretty high.

00:41:15.100 Like you have to the company will take the rap in the abstract.

00:41:18.860 Right.

00:41:19.020 Well, who's the company?

00:41:20.400 Company is nobody.

00:41:21.940 Yes.

00:41:22.680 All right.

00:41:23.000 So people do, I mean, quite literally get away with murder in many cases under this limited liability law, which is also, by the way, a legal, a legal fiction.

00:41:34.080 You know, it's a function of the state.

00:41:35.960 Yes, again.

00:41:36.340 So number six here.

00:41:38.860 In addition, massive asset management firms like BlackRock, Vanguard, State Street are now so large that they can dictate the market for any given share to the effective control of institutional investors across every sector and indirect control through the waves and ripples any movement they make will create for the rest of the market.

00:41:58.360 Yeah, I mean, BlackRock and Vanguard and State Street, if you ever want to have some fun, right, click on any company you can think of and have a look who their largest, who their largest shareholders are.

00:42:18.940 And pretty much any company, and I'm talking about the big blue chip brand name ones now, right, the S&P 500 type firms, will be 3% to 4% owned by BlackRock, Vanguard, and or State Street.

00:42:34.960 Also, BlackRock are the largest shareholders of State Street as well.

00:42:40.180 Right.

00:42:40.380 They all own each other, right?

00:42:41.420 They all own each other as well.

00:42:42.520 Yeah.

00:42:43.240 Right.

00:42:43.640 And then you can have a look, well, let's say Coca-Cola as an example, which are 3% to 4% owned by each one of these.

00:42:54.720 You can then have a look at Coca-Cola's own kind of investment wing, because there's like a Coca-Cola investment, because they have to invest their money.

00:43:04.120 And they will also be like a 1% or 2%.

00:43:06.020 So they all kind of, every company owns each other, right?

00:43:09.140 Mm-hmm.

00:43:39.140 And, I mean, speaking of algorithms, there's also this thing called Aladdin, which is a kind of investment platform software thing that BlackRock made its name, selling.

00:43:55.900 And Aladdin, as I understand it, isn't a kind of neutral platform, where it kind of makes little helpful suggestions.

00:44:05.560 Have you considered investing in Tesla?

00:44:09.280 Gives you good ESG points or whatever it is, you know.

00:44:12.500 So it's not a neutral.

00:44:13.740 It kind of gives you little nudges.

00:44:16.040 So if you can imagine, that also creates its waves and ripples, right?

00:44:21.520 If Aladdin AI today is telling you, well, this is a good one to go for, can you imagine how many firms all at once go for the same thing?

00:44:29.420 Now, I'm not saying that there are, obviously, the financial world is huge, and there are many players in it, little ones, big ones.

00:44:39.160 There are market-making firms.

00:44:40.640 I'm just saying that these firms are big enough that they set a tempo, right?

00:44:47.960 And let's say if the managers at BlackRock really had it in for a certain company, okay?

00:44:55.580 Let's just pretend to take an example that our friend, Curtis Yarvin, sometimes likes to make.

00:45:03.400 Let's imagine that, pick a huge company.

00:45:07.820 Let's think of a huge company.

00:45:10.220 Nabisco?

00:45:11.540 Huh?

00:45:12.220 Nabisco?

00:45:13.740 Yeah.

00:45:14.520 Let's just say that they came out as Nazis. 0.61

00:45:17.880 Like, right?

00:45:18.580 We are a Nazi firm now. 0.89

00:45:20.720 The tree elves.

00:45:21.660 I knew it the whole time.

00:45:22.900 Right, we are now the Nazi firm. 0.81

00:45:27.000 We stand for the mid-century Germans.

00:45:32.920 I mean, how do you think BlackRock would respond to that?

00:45:36.520 Let the market decide, right?

00:45:38.020 It'd be fine.

00:45:38.640 I mean, let the market decide, but no.

00:45:40.660 I think you'd quickly see a movement on those shares, and you'd see a massive crash in the share price of whatever firm that happened to be.

00:45:50.920 Regardless of how many trainers they're selling, or whatever it is they sell, right?

00:45:57.860 You know, it would be the Kanye Westization, if you want, of that company, just at that kind of level.

00:46:05.700 So, I mean, okay, I'm making an extreme point just to illustrate the fact that, you know, there is power held in these firms.

00:46:16.040 One of the things I would recommend people doing is to make a habit of reading Larry Fink's letter to the CEOs.

00:46:25.700 He writes one every quarter, I think.

00:46:29.640 It's called something like Larry Fink's letter to the CEOs.

00:46:33.600 And in that letter, Larry Fink basically lays out his vision for the next, like, year or whatever.

00:46:42.640 And it's not like a neutral letter.

00:46:45.040 It's not like, I mean, remember, this guy is meant to be just an asset manager looking after your wealth, you know, making money for people who have pensions and things like that.

00:46:54.360 But it's not that.

00:46:56.300 It's like, oh, we have a duty to make the world a better place.

00:47:00.340 You know, we must get to net zero carbon by this year.

00:47:05.700 And, you know, all of those great world economic forum talking points go directly in Larry Fink's letter.

00:47:13.760 And in it, there's an implicit threat.

00:47:15.700 I mean, they'll always catch you in a certain way.

00:47:18.700 You'll say things like, you know, it's incumbent on us to be leaders in the public-private partnership.

00:47:26.740 We can either be ahead of the game or behind the game.

00:47:29.880 And you want to be ahead of the game.

00:47:31.500 That's how he'll phrase it.

00:47:33.320 But the implicit threat is, listen, buddy, if you're not on board, either one, you know, if you're a hired CEO, you'll be fired or whatever.

00:47:42.000 Or two, you know, if you don't get on board, we're going to ensure that you're no longer in the top 10 or top 100 or whatever it is.

00:47:55.080 And I think we're actually seeing a little bit of that now with Tesla.

00:48:00.500 Tesla's, I mean, since I've been following Elon Musk, I cannot help but notice that every day Tesla's price is going down.

00:48:07.740 And he's moaning about, like, he's like, what's going on, guys?

00:48:10.720 I'm still selling loads of electric cars.

00:48:13.580 And it's like, well, what happened?

00:48:15.300 What happened for Tesla's price to come down now?

00:48:20.120 Well, this works well into number seven here.

00:48:23.020 Because speaking of those incentives and the need to get in line, I think a lot more people are familiar with this now than they were just a few years ago.

00:48:30.620 But you have, through these mechanisms and even attempts to formalize them, like ESG, managers can inflate stocks for bogus companies who create zero real value.

00:48:41.060 I think the green sector, 87% of Silicon Valley firms never see a profit.

00:48:47.500 Yep, their share prices have been great inflated over a decade.

00:48:50.840 It's driven by ideology, not what the customers want.

00:48:54.420 So these companies, like Tesla, might be on the upswing when they're, you know, conforming with ESG and they've got the buzz around, you know, they're in the right ideological quadrant of politics and everything.

00:49:08.540 And so they can get hyped up, they can get expanded to even companies that don't actually produce anything valuable can get this hype and this inflation.

00:49:18.040 But then they can artificially be reduced if they're no longer kind of on board with the ideology.

00:49:22.700 Yeah, and the weird thing about this is that if you ever see how these kind of equities valuations are done, you know, I mean, we're talking like really, really complex sums and spreadsheets and things.

00:49:36.560 But effectively, they're all based on like 10 and 15 year projections.

00:49:40.940 There's like this company that's been around since 2008.

00:49:44.380 In the year 2035, they'll probably start making a lot of money.

00:49:48.060 So you want to get in on that, Alron.

00:49:49.820 If you want to make a real return, you need to get in quick on whatever that company happens to be, right?

00:49:57.940 And there, I mean, one of the other interesting things you could do, you can have a look at, I think it's Forbes or Fortune is one of those.

00:50:07.240 But they release a rich list every year, right?

00:50:10.120 So like the leading billionaires.

00:50:13.560 Go through that and look up the ones who are in like software or, you know, companies you've never heard of.

00:50:22.060 Like, just have a look.

00:50:23.000 Like, who are they?

00:50:24.380 Where do they come from?

00:50:25.840 How much money do they make every year?

00:50:27.540 And you'll come across loads of people who are multi, multi-billionaires who've never, whose companies have never actually made a dime, not even like one penny in the past decade.

00:50:39.980 I mean, to me, this is an insane situation.

00:50:44.440 And yet, this has been the economy.

00:50:47.020 This is the entire California economy is built on this.

00:50:50.500 It's kind of, I mean, you'd call it, historically, you'd call it a bubble, wouldn't you?

00:50:56.500 But it never seems to burst.

00:50:57.560 It just keeps on getting bigger.

00:51:00.220 Since that internet crash of 2001 or whatever, they've just kept on getting bigger and bigger, these companies.

00:51:06.760 Yeah, back when pet.com ruled the earth.

00:51:09.440 But let's see here.

00:51:10.460 Number eight, on top of this, managers in government, see the Fed and central banks, can work with managers in finance, see BlackRock and Vanguard, to topple any rogue CEO, see current Tesla stock prices, or even any rogue government, see Bank of England plus market versus Liz Trust.

00:51:28.840 So you've already talked about this a little bit.

00:51:30.960 But yeah, the finance and government managers can coordinate to check out anyone who isn't properly playing the game, right?

00:51:39.300 Mm-hmm.

00:51:40.460 Yeah, and in the case of Liz Trust, who, after all, only really wanted to reduce tax by one pence, right?

00:51:50.620 I mean, she was the prime minister.

00:51:54.540 But, you know, I mean, there are a few other pieces to that jigsaw.

00:52:02.800 But, you know, oh, the sky was falling in.

00:52:06.140 But the reason that happened is because, remember those market signals?

00:52:11.560 The Bank of England made a statement, counter-signaling the Chancellor of the Exchequer, created a run-on guilt.

00:52:18.440 And, you know, the market is going to respond.

00:52:21.680 Like, if the Bank of England makes a statement, the market will respond, right?

00:52:26.520 Or if Larry Fink makes a statement, the market will respond.

00:52:30.440 Or if the chairman of the Fed makes a statement, the market will respond.

00:52:34.940 So you can see that there are these pieces of the machine or the pieces of the total state, if you want, that can, in a strange way, remove other pieces that aren't playing exactly the ball they want.

00:52:55.160 You know, Liz Truss was not like some kind of, this wasn't like appointing Anne Rand as prime minister or something like that, right?

00:53:04.100 This is just kind of like a, you know, a slightly thick, bog-standard Tory, you know, Tory.

00:53:13.200 But for whatever reason, the system wanted Rishi Sunak in power.

00:53:17.980 It didn't want Liz Truss in power.

00:53:19.360 And so, you know, what happened, happened.

00:53:25.180 So, yeah, and currently we're seeing Tesla stock price, which has, I mean, Tesla's a really interesting example because I think, and forgive me if there are any Tesla stands in the audience or whatever, I think that nobody really wants electronic cars out on, right?

00:53:43.860 This is just like a, this is like a kind of bullshit product, to be frank.

00:53:50.360 It doesn't solve the issue.

00:53:52.520 It's energy inefficient, right?

00:53:54.960 You can make them as cool as you want.

00:53:56.780 You can put video games in a Tesla for anybody cares, but it's still, it's still not really something that people, people in the heart of heart wants.

00:54:05.560 It is, it's being driven by an agenda, a green agenda.

00:54:10.700 And I think this partly accounts for Elon Musk's enormous wealth because the stock price of Tesla has been artificially pushed through the roof because this has to be the next best thing.

00:54:22.560 Why does it have to be the next, the next big thing?

00:54:27.260 Because everybody says so, because we have to reach net zero carbon or whatever.

00:54:31.880 So, in a strange way, Musk has ridden that grift for many years.

00:54:37.400 Now he's become enemy rather than friend.

00:54:40.120 And all of a sudden, oh, surprise, surprise.

00:54:44.580 They don't really care about electric cars that much.

00:54:46.700 I think Joe Biden even said like, oh, I really care about the environment, but not enough to drive a Tesla.

00:54:52.280 Did you see he said that?

00:54:53.980 Why am I imagining that?

00:54:54.780 Well, I think what's really interesting about the Tesla market is it feels like it's almost, and this is just anecdotal, I don't have any data or anything on this, but it feels like it's driven almost entirely by upper middle class climbers.

00:55:07.700 Like it's been sold as a status symbol to people who want to signal that they're on the ascent and they're like with the ruling ideology.

00:55:14.620 And that is almost its entire market.

00:55:17.740 Like the really rich don't want Teslas and like guys who need to haul heavy stuff across town don't want Teslas.

00:55:25.140 But people who really want Teslas are like, you know, they're managers.

00:55:30.000 It's managers.

00:55:31.120 It's exactly who it is.

00:55:34.540 It's those who kind of want to show that they're on the ascent, signal that they're with the game plan.

00:55:40.080 But there's only so many of those people.

00:55:41.820 It can't be an average everyday car.

00:55:43.800 I mean, that's why the meme where everyone was like, well, you know, like Pete Buttigieg being like, well, isn't it great that the price of gas will go up because then everyone will have to buy a Tesla.

00:55:52.480 It's like, well, not everybody makes 50 grand, Pete.

00:55:55.180 Or not everyone makes enough to buy a 50 grand car this year, Pete.

00:55:58.480 So actually, like the vast majority of people are just taking a big L on your higher gas prices.

00:56:03.920 And so I think that's the thing is there's only so much of a market for this.

00:56:08.860 The really rich don't want it.

00:56:10.400 The poor can't afford it.

00:56:11.680 The lower middle class are either repulsed by it or it doesn't do the job they need. 0.60

00:56:16.260 It's really only one very specific section of the population that sees it as the status symbol.

00:56:21.400 Yeah.

00:56:21.880 And I think Elon Musk is going to discover pretty quickly.

00:56:25.740 Elon Musk is speed running Carl Schmitt.

00:56:27.820 I don't know if you noticed this, right?

00:56:29.300 Yeah.

00:56:31.080 Friend enemy doesn't work where, oh, we get to be friends on this issue over here.

00:56:36.280 But on this issue over here, we'll go enemies.

00:56:38.860 It doesn't work like that.

00:56:41.000 He's getting the IDW crash course where it's like, oh, I thought I agree with you on 90% of things.

00:56:46.700 Why am I suddenly the second coming of the mid-century Germans?

00:56:50.440 Oh, because a disagreeing with one thing puts me on the enemy list and that's all that matters.

00:56:55.160 But I am convinced that this will extend also to Tesla in time.

00:57:01.180 We're actually watching it happen now.

00:57:04.180 And I would be surprised.

00:57:05.980 What I suspect will happen, I don't want it to happen, but what I suspect will happen is that Tesla will be the mechanism through which the total state disciplines Musk.

00:57:16.800 Interesting.

00:57:17.160 Musk is interesting, though, because like Thiel, he's quite in with what people call the deep state, like the security apparatus and things like that through SpaceX.

00:57:32.360 So those two guys in particular have done an interesting job of kind of making themselves curiously indispensable to the deep state.

00:57:43.020 So he has some leverage the other way, right?

00:57:47.160 But I still think they'll try to discipline him through Tesla.

00:57:51.340 Yeah, well, Starlink is another aspect of this, right?

00:57:53.400 They needed Internet in Ukraine, so they needed Musk to deploy Starlink there.

00:57:59.740 So, yeah, I think there are interesting – a lot of people will get on to Musk, and understandably so, for kind of being in bed with the state.

00:58:07.900 But there is the other – there's the flip of that where, as you're pointing out, it could be a strategy of making yourself indispensable so that there's less pressure the state can immediately put on you without endangering its own operations.

00:58:21.360 Yeah, although if push comes to shove, I don't know why they just wouldn't say, yeah, we're going to nationalize it.

00:58:27.600 Right.

00:58:28.620 Or, yeah, something similar.

00:58:30.240 All right, so number nine, the iron law of oligarchy extends also to the consumer level.

00:58:35.180 It's not the consumers who are sovereign, but the purchasing managers of a supermarket who dictate which goods they see on the shelves and which one they don't.

00:58:46.980 Even if there are massive market demand for, say, Alex Jones, the Apple supermarket is not going to allow it on their shelves.

00:58:54.300 But it's the same with any consumer good.

00:58:57.380 Yeah, so this is really important, right?

00:58:59.080 The people who actually get to curate the marketplace, and especially, again, as these marketplaces centralize, as everyone gets used to getting their podcast through Apple and everyone gets used to watching their video on YouTube and not willing to go somewhere else,

00:59:15.540 these platforms who get to curate who's on there and who's not have a massive amount of control.

00:59:21.720 So even if you think you have a free market, you might end up getting a lot more Lex Friedman commercials on your YouTube than you will Alex Jones, right?

00:59:32.780 Well, Alex Jones will be banned, for one.

00:59:35.640 Right, right, right, right, right.

00:59:36.800 Yeah, whoever the purchasing manager is decides, well, we're going to push Friedman now.

00:59:43.580 But, I mean, it's not just that.

00:59:45.220 It's like brands of sausages or soft drinks or whatever it happens to be.

00:59:50.380 What the consumer actually sees is curated.

00:59:56.360 One of the best places you can see this is in, if you ever go through a supermarket, have a look at the books on the shelf that's being sold in the supermarket, right?

01:00:07.380 I mean, are they the books that everybody wants?

01:00:10.880 In theory, but in practice?

01:00:14.400 I mean, you're not going to see my book there.

01:00:16.400 Oh, come on. 0.87

01:00:17.220 You're going to see.

01:00:18.740 Can't think of the populist delusion as I walk through my local grocery store?

01:00:23.640 I don't think so.

01:00:25.880 A true crime.

01:00:27.000 But you are going to see various other books which have an ideological bent, let's just say.

01:00:33.400 A lot more E, Pray, Love than Machiavellian Politics.

01:00:36.140 Yeah, exactly.

01:00:38.160 Well, no, they will be books for the thinking man.

01:00:42.640 But it'll be like, you know, Homo Sapiens by Yuval Harari.

01:00:47.300 You know, this will be the sort of thing that you'll see in the airport, you know.

01:00:55.840 So, yes.

01:00:58.020 All right.

01:00:58.360 So, number – oh, sorry.

01:00:59.480 Did you want to go further there?

01:01:00.620 This also works the other way.

01:01:04.940 So, we've talked about, like, Alex Jones being banned or certain products not being allowed on the shelf.

01:01:10.120 Do you remember the massive, massive push about a year ago to get Beyond Meat products sold?

01:01:16.460 Yes.

01:01:16.940 I love your point about this.

01:01:18.100 This is very good.

01:01:18.680 Please go in depth a little bit on this because I love your spiel on this.

01:01:22.040 Well, I mean, some – I mean, let's face it.

01:01:26.720 There would be some purchasing manager, probably a fat woman, okay, who is in charge of procurement for a supermarket, what new products get on the shelves, okay? 0.99

01:01:40.120 She will be given a KPI that is, you know, her boss, her manager will tell her, listen, you have now written into your contract, we have to be net carbon zero compliant by this time.

01:01:57.900 And your KPI is dependent on us reaching this target, okay?

01:02:02.680 Now, also, by the way, we've set you up with a meeting with Beyond Meat, who tick all these boxes.

01:02:11.900 Like, if you're that procurement manager, regardless of how many people actually want Beyond Meat, are you going to give it a place on the shelf?

01:02:22.000 And the fact of the matter is, is that every single supermarket went big on Beyond Meat.

01:02:27.120 And not only that, McDonald's, Burger King, they all went big on Beyond Meat plant-based burgers.

01:02:36.580 And they put it as number one on their menu.

01:02:40.160 I don't know if that's still the case, but at one point, if you went to McDonald's and you went on the electronic menu that's replaced real workers, it was the first one.

01:02:48.760 It'd be like, have a plant, have a muck plant. 0.75

01:02:52.300 Or you could have a Big Mac or all the other things, but it put it as number one.

01:02:55.680 So that's a little nudge technique there.

01:02:58.820 And what was incredible is that during the pandemic, when food was running out and people, you remember where people were panic buying and things like that?

01:03:09.340 Even during all of that, nobody touched the Beyond Meat burgers.

01:03:15.640 There were empty shelves, no fruit, no veg, but nobody would touch it.

01:03:21.560 Even at reduced price, nobody would touch the Beyond Meat stuff.

01:03:26.320 And that is actually one area where the total state seems to have taken an L.

01:03:32.680 Because if you look at the Beyond Meat stock price now, it is crashing and burning.

01:03:37.080 And even Bill Gates came out and said, look, guys, this hasn't worked.

01:03:43.800 People just don't want to do this.

01:03:45.500 So we're going to have to go back to the ruling board.

01:03:47.660 And if Bill Gates is saying that, you're pretty much screwed.

01:03:50.080 So I live in Florida, and of course, we get hurricanes pretty regularly.

01:03:56.380 And one of the amazing things is even when the hurricanes are coming through and all of the shelves are completely empty because everyone's buying food for the next few weeks because who knows if they're going to have power or anything like this.

01:04:09.200 There's always one thing left on the shelf every time.

01:04:12.320 There's one thing that no one, no matter how desperate they are, never buys.

01:04:16.160 And it is the Beyond Meat stuff.

01:04:18.060 So, yeah, I think that...

01:04:19.700 But just think about that, though.

01:04:21.300 Did it stop them buying it?

01:04:22.660 Did it stop, like, we saw Beyond Meat fail in every single shop.

01:04:27.440 It didn't stop every single fast food chain going big on it.

01:04:30.740 It's still on the menu.

01:04:32.240 And it's still there, right?

01:04:33.320 It's still...

01:04:33.960 They're still buying the stuff and throwing it away.

01:04:36.020 You know they're just buying it and throwing cartons of it away.

01:04:38.560 There are also new businesses opening, plant-based, like, fast food chain.

01:04:43.320 We own, like, a vegan fast food chain, you know.

01:04:46.880 There's one called Leon in this country that's gone, like, oh, we're plant-only now.

01:04:51.500 I mean, I don't know who goes there.

01:04:53.080 I don't know if they get, like, government money on the side or something to do this.

01:04:56.460 Do this.

01:04:56.980 But, yeah, the Beyond Meat thing in this country, I know, was actually...

01:05:03.800 I found a white paper written and recommended to the government in 2019

01:05:09.180 where they basically laid out the entire plan of what they were going to do.

01:05:14.140 I mean, freely available information.

01:05:16.440 The government want this.

01:05:18.700 Yeah.

01:05:19.340 Right.

01:05:19.660 So, you've got the government basically pushing out an edict

01:05:25.660 and all of the other parts of the total state, you know, enacting that.

01:05:32.420 I mean, it's basically the Soviet Union, I don't know.

01:05:35.560 This is what used to happen in the Soviet Union.

01:05:37.360 They used to have, like, you know...

01:05:39.800 They used to have, like, shelves full of stuff nobody wanted,

01:05:43.240 and then at the same time there'd be a shortage of razor blades.

01:05:46.220 Of all the things people actually need.

01:05:47.520 Yeah, well, let's...

01:05:48.580 I want to get into the implications,

01:05:50.180 but let's go ahead and finish these last three here real quick

01:05:52.640 so we have plenty of time to kind of get into the implications

01:05:55.560 of what all this means.

01:05:56.660 So, number 10, consumers are effectively trained as cattle

01:05:59.900 into long-term purchasing habits

01:06:01.660 that are nearly perfectly predictable by companies

01:06:04.520 who produce those goods.

01:06:06.160 Most markets have a market leader with a 70% share, like Coke,

01:06:10.280 a number two brand with 29% share, like Pepsi,

01:06:13.180 and the rest of the market who make up the other 1%.

01:06:16.320 Yeah, I've had this...

01:06:20.200 There's this website called Statistica.

01:06:22.860 I don't know if you've ever come across that.

01:06:26.080 Well, if you want to pull up stats on anything,

01:06:28.120 you have to subscribe, you have to give money,

01:06:30.020 but you can just lose hours.

01:06:34.760 You can have hours of fun.

01:06:36.460 Think of any industry you want, any product you want,

01:06:39.840 butter, say, or, you know, washing up liquid,

01:06:43.960 or, I don't know, cheese-based maize snacks,

01:06:48.220 whatever it happens to be,

01:06:50.220 and you will find this pattern

01:06:51.860 where there's a market leader,

01:06:54.860 there's a number two brand,

01:06:56.400 and then there's the rest of the market,

01:06:58.120 which in many cases is the supermarket's own

01:07:01.200 when it comes to consumer goods.

01:07:03.640 It'd be like, in this country,

01:07:05.700 it's Tesco's and Sainsbury's.

01:07:07.020 I guess there it'd be like,

01:07:08.700 what are your supermarkets, like Walmart?

01:07:09.960 Walmart.

01:07:11.120 What are your big supermarkets called?

01:07:12.700 Yeah, like Walmart, Walgreens,

01:07:15.200 you know, Albertsons,

01:07:16.380 like all the different ones we have here.

01:07:18.440 Yeah, so, yeah,

01:07:21.200 one of the things I found is that

01:07:22.740 there are companies who are specialists

01:07:24.400 in being the number two brand.

01:07:26.540 So PepsiCo, as a company,

01:07:29.440 are very rarely the market leader in any good, right?

01:07:33.340 But they're very often the number two brand.

01:07:35.360 And, I mean, everybody thinks like Coke and Pepsi are rival.

01:07:40.860 You'd think it was 50-50, right, that market.

01:07:43.100 It's not.

01:07:44.280 Coke are very much the market leader.

01:07:45.960 Pepsi are the number two.

01:07:47.640 But then, like, I don't know,

01:07:48.980 go over into another market,

01:07:51.280 and like you'll find like Doritos are the number two,

01:07:53.380 like maze-based snack or something,

01:07:55.700 which are owned by PepsiCo.

01:07:57.500 And they're like that, like across the board.

01:07:59.640 Any product they run,

01:08:02.620 they're the number two.

01:08:03.380 Another company I found like that were Unilever, right,

01:08:06.860 which is a big European company.

01:08:10.120 You know, like in our supermarkets,

01:08:12.480 they're the number two brand

01:08:13.520 across basically every cosmetic you can imagine.

01:08:18.560 So, yeah.

01:08:20.620 Being number two is a pretty good position, right?

01:08:22.440 So there's plenty of people who are willing to slide into it.

01:08:25.160 You need to, like, coin this term,

01:08:27.420 you know, like the Parvini distribution or something,

01:08:29.560 so that you can be aware of that.

01:08:30.520 Yeah, I call it there's always a Coke

01:08:32.860 and there's always a Pepsi.

01:08:34.020 Yeah, you need something snappier.

01:08:35.720 You got to put your stamp on it here.

01:08:38.840 But you see, what's interesting is that

01:08:40.580 the illusion of choice that you get on the shelf

01:08:44.740 is very often just a choice.

01:08:47.940 Like, your choice really is number one brand,

01:08:51.140 number two brand,

01:08:51.960 and then Supermarket Zone, okay?

01:08:58.300 And, I mean, I don't know what it's like in America,

01:09:00.880 but in this country,

01:09:01.820 there are many, many brands

01:09:04.220 that are secretly owned by the number one brand

01:09:06.740 or the two brand, right?

01:09:07.920 Yeah, this is your number 11 here, right?

01:09:10.220 Well, no, no, no.

01:09:10.980 It's actually, I don't know what they call it,

01:09:13.440 like a legacy brand name or whatever.

01:09:15.820 I'll give you an example, right?

01:09:17.440 In this country,

01:09:18.360 the Coke of the chocolate market is Cadbury's.

01:09:22.280 I don't think it is in America.

01:09:23.660 You have weird chocolate over there.

01:09:24.900 It's more like Hershey's, yeah.

01:09:26.180 Yeah, but in this country, it's Cadbury's.

01:09:28.060 It's quite bad.

01:09:28.840 Cadbury's chocolate.

01:09:30.220 Cadbury's, by the way, isn't really Cadbury's.

01:09:32.160 It's owned by,

01:09:33.940 I think it was bought by Kraft at one point,

01:09:36.920 which is sick and evil and wrong,

01:09:38.600 but let's not get into it.

01:09:40.220 Anyway, it's Cadbury's.

01:09:41.400 But then there are all like these chocolate bars

01:09:44.720 from the 1920s,

01:09:45.820 like Fry's Turkish Delight, say,

01:09:48.780 or I don't know,

01:09:50.200 like Macintosh chocolates,

01:09:53.300 or whatever it happens to be.

01:09:57.440 All of those old legacy brands

01:09:59.520 are also owned by Cadbury's.

01:10:01.560 And the ones that aren't owned by Cadbury's

01:10:03.020 are owned by Nestle.

01:10:04.260 And the ones that aren't owned by Nestle

01:10:05.440 are owned by Mars, whatever it is.

01:10:07.060 So you never really get away from these companies

01:10:09.880 because all of the,

01:10:12.300 like, if you're just,

01:10:13.340 if you don't really look at the packaging,

01:10:15.560 you'd assume they were separate companies, right?

01:10:17.780 But in actual fact,

01:10:19.800 it's all just like two companies.

01:10:23.260 Which, yeah.

01:10:24.700 And then if you dig into the BlackRock

01:10:26.600 and the Vanguard stuff,

01:10:28.160 you're like, hold on,

01:10:28.600 the same people own these two companies anyway.

01:10:30.600 So what's the difference between Coke and Pepsi?

01:10:33.480 They're all just managers, you know?

01:10:35.340 There's this weird phenomenon in America.

01:10:37.400 I don't know if it happens in the UK,

01:10:41.000 but due to our, like, value-buying habits or whatever,

01:10:45.100 this is a little more apparent in America

01:10:46.460 because, like, you go to the soda aisle, right?

01:10:49.920 You go to the soft drink aisle,

01:10:51.380 and there's, you know, 60 different options.

01:10:54.620 And what happens is every week,

01:10:56.200 like, it's one is on sale.

01:10:58.240 It's buy two of this kind of product, get one free.

01:11:00.800 And so if it's buy two Coke products, get one free.

01:11:04.700 Then half the sodas basically are included in that.

01:11:07.680 And then the next week, it's, well,

01:11:09.000 buy, you know, two Pepsi products, get one free.

01:11:11.300 And it's the other half.

01:11:12.240 So actually, even though you've got

01:11:13.480 40 different sodas all there,

01:11:16.640 it kind of reveals itself that actually

01:11:18.680 all of those 40 sodas are produced

01:11:20.720 by either one or two companies.

01:11:22.080 And it doesn't matter which one you're grabbing

01:11:23.620 of the 40 different ones.

01:11:25.260 You're actually only ever getting

01:11:26.440 one of the two leaders there.

01:11:28.840 Yeah.

01:11:32.120 But let's go to...

01:11:33.040 It doesn't matter.

01:11:33.800 The free market are on.

01:11:34.780 Just make your own Coca-Cola.

01:11:36.640 Yeah, right.

01:11:38.420 Just go ahead and break in.

01:11:40.720 So number 11,

01:11:41.900 even if consumers were not cattle,

01:11:43.680 but perfectly rational actors,

01:11:44.980 most of the living firms are now so big

01:11:46.820 that it's impossible to boycott.

01:11:49.260 Procter & Gamble is the best recent example

01:11:51.300 following the Gillette ad,

01:11:52.820 which lost them $8 billion.

01:11:54.920 The CEO was not even fired.

01:11:56.660 And he said, I do it again.

01:11:57.880 Procter & Gamble can eat that up.

01:11:59.380 So yeah, you already mentioned that a little bit.

01:12:01.020 But this is why go woke, go broke is such a joke.

01:12:04.680 Because even if the company you think

01:12:07.260 you're trying to punish

01:12:08.360 has done something you don't like,

01:12:10.520 you're actually probably just going to end up

01:12:12.140 switching to one of their other products

01:12:14.080 in an attempt to punish them

01:12:15.220 and not even realize it.

01:12:17.140 Yeah, I mean, I realize this

01:12:18.900 when I try to actually boycott Procter & Gamble,

01:12:21.460 myself, after the Gillette ad.

01:12:25.280 As you know, three years ago,

01:12:28.500 I had a baby daughter.

01:12:32.340 And try, just try boycotting Procter & Gamble

01:12:36.520 when it's 2 a.m.

01:12:38.520 You've run out of nappies.

01:12:39.740 I guess you guys would say diapers, right?

01:12:41.840 You have to do like a 2 a.m. run

01:12:43.880 to the 24-hour store to pick up,

01:12:47.080 I don't know, like wet wipes and nappies.

01:12:49.480 Oh, Pampers are owned by Procter & Gamble.

01:12:54.720 Shit, this store doesn't have an alternative

01:12:57.980 to Pampers at this time of night.

01:13:00.080 I've got no other option.

01:13:01.860 What can I do?

01:13:02.820 Oh, here's an alternative.

01:13:03.840 Oh, they're owned by Procter & Gamble as well.

01:13:06.900 Oh, right.

01:13:07.440 So the number two brand in this field

01:13:10.420 is also Procter & Gamble.

01:13:13.000 What about this cream?

01:13:14.160 Oh, that's owned by Procter & Gamble.

01:13:15.960 What about this other baby product?

01:13:17.600 Oh, that's owned by Procter & Gamble.

01:13:19.680 And then let's just pretend

01:13:21.180 that you can manage to find an alternative.

01:13:24.060 Well, the alternative in all of those fields

01:13:25.720 will be owned by Unilever instead.

01:13:29.580 Well, do you think Unilever is like

01:13:31.320 for toxic masculinity? 0.75

01:13:33.340 Or do you think Unilever doesn't do like

01:13:36.540 woke advertising?

01:13:38.640 Or do you think Unilever is going to like

01:13:40.840 come out as being like 0.85

01:13:43.440 on our side of the culture wars?

01:13:45.840 I mean, it's probably owned by a good percentage

01:13:47.840 by the same people who own Procter & Gamble

01:13:50.260 in the first place, like BlackRock and such.

01:13:52.580 Right.

01:13:52.800 So there is no like go woke, go broke.

01:13:55.400 What are you talking about?

01:13:56.860 Who are you going to buy those products for instead?

01:13:59.820 You know?

01:14:01.040 Are we going to go like, I mean,

01:14:02.420 okay, we could go Nate,

01:14:03.440 like maybe I can wrap my baby in a towel

01:14:07.080 like they do in the 80s or something.

01:14:08.560 I don't know, like there's one.

01:14:10.340 But most people aren't going to do that.

01:14:13.060 So now I'm just kind of like

01:14:14.460 making my life more difficult

01:14:16.060 for some principle.

01:14:17.540 But it's like, well,

01:14:18.880 if it's this difficult for me to do it,

01:14:20.900 I know that guy over there

01:14:23.000 who said he's going to do it

01:14:23.960 is not going to, you know,

01:14:25.620 I'm autistic, Aaron.

01:14:26.840 I'm going to really, really try hard.

01:14:30.040 But I couldn't do it.

01:14:31.560 And if I can't do it,

01:14:32.640 none of these people watching the show

01:14:33.900 are going to do it either.

01:14:35.460 So.

01:14:35.760 And a lot of people who think

01:14:37.220 they're escaping this

01:14:38.200 by going to some brand

01:14:39.900 outside of the mainstream,

01:14:41.860 like, oh, I'm going to order

01:14:42.620 this specialty online

01:14:44.080 or I'm going to go to this

01:14:45.400 specific, you know,

01:14:46.800 artisanal whatever.

01:14:48.240 It turns out that if those people,

01:14:50.140 because of the economy and scale,

01:14:51.780 actually want to be able

01:14:52.840 to distribute those products to you,

01:14:54.600 they're probably just buying materials

01:14:56.760 from all the companies

01:14:57.580 you're trying to boycott

01:14:58.480 and functionally repackaging them

01:15:00.540 and selling them back to you

01:15:01.680 as some kind of independent actor.

01:15:04.220 You get into all sorts of like

01:15:05.860 really quite blackpilling areas.

01:15:07.560 Like, you know,

01:15:08.140 I buy a lot of books.

01:15:09.360 I buy a lot of secondhand books,

01:15:10.800 as everybody knows.

01:15:12.620 And everybody will say,

01:15:14.520 oh, yeah, don't use Amazon.

01:15:15.700 They're evil.

01:15:16.700 Use Abe Books

01:15:17.760 until you find out that Abe Books

01:15:19.500 is owned and operated by Amazon.

01:15:21.860 It's just like,

01:15:22.740 there's just no way out of this.

01:15:24.340 You know,

01:15:24.840 they own,

01:15:25.980 like they own everything.

01:15:28.780 You know,

01:15:29.260 apart from the couple

01:15:30.060 of little companies that we run,

01:15:31.640 they don't own the academic agency,

01:15:32.940 but even in a strange way,

01:15:34.580 they do because.

01:15:35.620 Oh, come on. 0.87

01:15:35.940 We know you're a subsidiary.

01:15:37.480 Like, let's be honest.

01:15:39.040 Well, I run it through Thinkific

01:15:40.400 and on the back end,

01:15:42.760 there'll be,

01:15:43.300 you know,

01:15:44.160 some processing company.

01:15:46.600 Ultimately,

01:15:47.040 you'll get into

01:15:48.200 the payment processing.

01:15:50.580 It'll be Visa or MasterCard.

01:15:52.460 So,

01:15:53.140 if the state really,

01:15:54.380 really wanted to go after me

01:15:55.440 and shut me down,

01:15:57.080 they just like shut my bank account

01:15:58.560 or they just be like,

01:15:59.740 well,

01:16:00.200 we're going to turn off

01:16:01.540 payment processing

01:16:02.360 from your site.

01:16:04.400 So,

01:16:04.600 there is no off the grid.

01:16:07.480 I mean,

01:16:07.820 let's just face it.

01:16:08.540 There is no way,

01:16:09.780 there's no way to

01:16:11.600 get outside of

01:16:15.760 what we're calling

01:16:16.320 the total state

01:16:17.160 when it comes to engagement

01:16:18.820 with the economy.

01:16:21.120 You know,

01:16:21.680 even these theoretical bits

01:16:23.160 of free market

01:16:23.820 that we're thinking about

01:16:24.820 aren't really,

01:16:26.260 truly independent.

01:16:27.820 It's a network.

01:16:28.820 It's a grid.

01:16:29.400 It's a matrix,

01:16:30.620 if you want to use that.

01:16:31.960 And there's no outside of it.

01:16:33.620 There's no,

01:16:34.940 they've made it,

01:16:37.040 I remember our friend

01:16:38.080 Charlemagne

01:16:38.740 made a very good video once

01:16:40.160 called No Exit.

01:16:42.140 Right?

01:16:42.240 Yes.

01:16:42.800 And they've made it

01:16:43.740 so there is truly no exit.

01:16:46.240 You know,

01:16:46.560 unless you want to go back

01:16:47.920 to barter economy

01:16:50.000 or something,

01:16:51.100 living in a hut,

01:16:52.580 you know,

01:16:53.720 you're pretty much stuck with this.

01:16:55.600 You can't boycott them.

01:16:58.000 You can give them a bloody no.

01:17:01.060 I mean,

01:17:01.220 $8 billion is not like

01:17:02.860 Trump change,

01:17:04.020 right?

01:17:04.760 Yeah.

01:17:05.500 But they can,

01:17:06.240 they can take it.

01:17:07.580 They can take it

01:17:08.320 because they know that

01:17:09.420 even if people

01:17:10.680 really successfully boycott

01:17:12.120 their razor blades,

01:17:13.580 they have got literally

01:17:14.500 300 other products

01:17:15.820 that you can't live without.

01:17:18.640 So what are you going to do now?

01:17:21.480 Right?

01:17:23.800 You'll owe nothing

01:17:24.720 and be happier.

01:17:26.320 Well,

01:17:26.760 I think number 12 here

01:17:28.700 we basically covered

01:17:30.000 kind of with everything else

01:17:31.020 we've talked about.

01:17:31.940 So I want to go ahead

01:17:32.760 and because I know

01:17:33.920 you've got a show

01:17:34.860 coming up next hour

01:17:36.180 on popular opinions

01:17:37.160 for anyone who's unfamiliar.

01:17:38.680 You should definitely go

01:17:39.300 check that out

01:17:39.920 as soon as we're done here.

01:17:40.860 But I want us to have time

01:17:41.660 to be able to talk

01:17:42.720 about the implications

01:17:43.440 and then get through

01:17:44.320 any super chats we had.

01:17:45.900 So,

01:17:47.000 okay,

01:17:47.660 so now we understand

01:17:48.600 the market is not free.

01:17:52.060 It's very difficult

01:17:52.680 to create the kind of free market

01:17:53.860 that I think a lot of people

01:17:54.680 assumed was operating

01:17:56.600 back when they were a kid.

01:17:58.320 But now we know

01:17:59.220 that that was kind of an illusion

01:18:00.940 and we were kind of always

01:18:02.640 under this capture

01:18:04.080 of the state economically.

01:18:07.660 So what are the implications here?

01:18:09.300 I think a lot of people's

01:18:10.220 immediate response

01:18:10.980 are like some of the ones

01:18:12.040 I saw in things like,

01:18:13.840 okay,

01:18:14.060 so everyone just becomes

01:18:14.940 a communist now.

01:18:16.120 Like if the free market

01:18:17.000 is a myth,

01:18:17.980 then what do we do

01:18:19.360 with this information

01:18:20.100 other than understand

01:18:21.200 that it's like a practical,

01:18:22.980 it's a practical truth

01:18:24.420 of our situation?

01:18:25.400 Like what can we,

01:18:26.260 what conclusions

01:18:26.980 can we draw from it?

01:18:30.680 Well,

01:18:31.340 I think recognizing

01:18:33.140 what the game is,

01:18:35.080 where the power,

01:18:35.900 where the power lies

01:18:37.000 and ultimately

01:18:38.880 what would need to happen

01:18:40.900 if we were,

01:18:41.680 if we were to wield

01:18:42.440 that power.

01:18:44.740 That's the real,

01:18:45.920 that's the real question.

01:18:48.600 And I do think

01:18:51.160 that there are signs

01:18:52.160 that at least a few people

01:18:54.180 are playing that game.

01:18:56.760 I mean,

01:18:56.900 we've mentioned Elon Musk

01:18:58.120 several times.

01:19:00.460 You know,

01:19:01.200 whether he wins

01:19:01.960 or loses in the long term,

01:19:04.040 he at least is

01:19:05.220 playing the right game.

01:19:07.000 Right?

01:19:07.400 I mean,

01:19:07.740 he,

01:19:08.120 he captured,

01:19:09.140 he did something

01:19:09.820 that we've not seen

01:19:10.940 anybody do.

01:19:11.780 He has captured

01:19:12.720 a rival castle

01:19:13.600 from the regime,

01:19:15.280 at least temporarily.

01:19:17.120 Right?

01:19:17.340 I think,

01:19:20.320 and again,

01:19:21.460 you know,

01:19:21.840 I've been the first one

01:19:23.060 to say that Ron DeSantis

01:19:24.400 is,

01:19:25.580 I think,

01:19:26.600 an agent of containment.

01:19:28.280 I think that

01:19:28.900 his ultimate role

01:19:30.400 is pro-regime,

01:19:33.320 by which I mean

01:19:34.340 he will get people

01:19:35.880 to have faith

01:19:37.320 in the system again,

01:19:38.520 because ultimately

01:19:39.000 they need people to,

01:19:40.000 you know,

01:19:40.700 die in wars

01:19:41.380 and things like that.

01:19:42.560 You can't have a situation

01:19:43.840 where half of the population

01:19:45.720 or a third

01:19:46.760 of the population,

01:19:48.020 especially that third

01:19:49.700 of the population

01:19:50.260 which you typically

01:19:50.920 recruit from

01:19:51.740 for the army.

01:19:53.820 You can't really

01:19:54.720 have a situation

01:19:55.380 where they're tapped out

01:19:57.600 and they just don't trust

01:19:59.640 any of their institutions.

01:20:00.940 Right?

01:20:02.380 Like,

01:20:03.340 that's unsustainable

01:20:04.460 as a long-term,

01:20:05.940 as a long-term strategy

01:20:07.160 for power.

01:20:08.160 So at some point,

01:20:08.980 I think that

01:20:09.780 they need to

01:20:11.780 make a few concessions,

01:20:13.800 right?

01:20:14.240 Or at least

01:20:14.960 be seen to,

01:20:17.180 you know,

01:20:17.960 put a few of these

01:20:18.800 woke things away.

01:20:21.000 And this is where

01:20:22.500 I think somebody

01:20:23.340 like Ron DeSantis

01:20:24.240 comes in

01:20:24.820 because,

01:20:25.840 you know,

01:20:26.600 he does a lot of,

01:20:27.340 let's face it,

01:20:27.880 he does a lot of things

01:20:28.840 that people like us

01:20:29.880 agree with.

01:20:32.040 Right?

01:20:32.440 He's ostensibly

01:20:33.580 doing stuff

01:20:34.240 that we want.

01:20:35.460 Would you agree with that?

01:20:36.640 Yeah,

01:20:36.960 absolutely.

01:20:37.780 And so,

01:20:38.960 and I mean,

01:20:39.780 certainly people

01:20:40.360 from Florida

01:20:41.240 that I've met,

01:20:42.320 including yourself

01:20:43.100 and so Bishop

01:20:45.060 and various other people,

01:20:47.340 you know,

01:20:47.760 it's the rarest

01:20:49.220 of things,

01:20:49.760 right?

01:20:50.320 A leader

01:20:50.900 who people like say,

01:20:51.880 yeah,

01:20:52.020 he's actually all right.

01:20:52.880 He's done good stuff

01:20:54.280 for us.

01:20:54.940 I don't actually know

01:20:55.520 of any other examples

01:20:58.120 like in my lifetime.

01:20:59.960 Yeah,

01:21:00.160 no,

01:21:00.340 I mean,

01:21:00.560 I get into this

01:21:02.900 all the time

01:21:03.280 because I know

01:21:03.640 this is a very popular

01:21:04.520 position,

01:21:05.000 the one you espouse

01:21:05.840 is very popular

01:21:07.440 kind of in our circles

01:21:08.960 and I understand why.

01:21:10.980 But yeah,

01:21:11.740 I mean,

01:21:11.980 in a very direct way,

01:21:13.480 my life was much better

01:21:15.000 over the last few years

01:21:16.400 because of Ron DeSantis.

01:21:17.720 Like,

01:21:17.980 there's just no way

01:21:18.880 of avoiding that.

01:21:19.740 My life would have been

01:21:20.500 much worse

01:21:21.860 had it not been

01:21:22.700 for Ron DeSantis

01:21:23.640 being in power

01:21:24.460 and that's the kind of thing

01:21:26.260 that actually builds loyalty

01:21:27.800 and builds,

01:21:28.680 you know,

01:21:30.200 real support

01:21:31.760 that's organic.

01:21:35.000 that you otherwise

01:21:35.820 don't see very often.

01:21:37.180 So I think it's very understandable

01:21:38.600 that Floridians

01:21:39.220 are pretty bullish on him.

01:21:41.580 Yeah,

01:21:41.720 but I mean,

01:21:42.800 at the very least,

01:21:43.680 he is making the right

01:21:44.660 sorts of moves,

01:21:45.420 right?

01:21:46.000 I saw that he was targeting

01:21:47.400 the ESG stuff.

01:21:50.780 He went after Disney,

01:21:52.400 you know,

01:21:53.040 in a real way.

01:21:55.360 You know,

01:21:55.520 whether any of this stuff

01:21:56.700 ultimately translates

01:21:58.180 into genuine action

01:21:59.060 or not,

01:22:00.300 you know,

01:22:01.340 we'll see,

01:22:03.420 I guess.

01:22:03.780 but I mean,

01:22:05.460 he's making the right

01:22:06.320 sorts of noises,

01:22:07.640 which,

01:22:07.940 you know,

01:22:08.800 at the very least,

01:22:09.600 he's playing the right game,

01:22:11.020 right?

01:22:11.800 He's not afraid.

01:22:13.080 He's not cowed

01:22:14.280 by the ideology

01:22:16.100 of small government

01:22:16.860 conservatism saying,

01:22:18.320 we can't involve

01:22:19.020 ourselves in this.

01:22:19.800 We can't ever punish

01:22:20.760 a company for its behavior

01:22:22.000 because we're

01:22:23.580 the small government guys.

01:22:24.720 He throws that convention

01:22:26.120 to the wayside.

01:22:26.860 And he's also not

01:22:28.780 using the cope lines.

01:22:30.480 Like a cope way

01:22:31.900 would be like,

01:22:32.500 oh,

01:22:32.720 well,

01:22:33.120 we'll see Disney

01:22:34.140 at the end of the year.

01:22:35.500 You know,

01:22:35.720 how many people want

01:22:36.580 to go to a groomer park

01:22:38.520 or whatever?

01:22:39.100 Like,

01:22:39.620 I mean,

01:22:39.880 he's realistic enough

01:22:41.100 to understand that.

01:22:43.340 You know,

01:22:43.740 people aren't really

01:22:44.480 going to boycott Disney

01:22:45.340 in big enough numbers.

01:22:46.760 You know,

01:22:47.300 I mean,

01:22:47.600 I think Disney own

01:22:48.620 like a fifth

01:22:49.660 or maybe even a quarter

01:22:51.120 of the entire

01:22:51.700 entertainment industry.

01:22:53.500 Yeah.

01:22:53.540 Like it's just impossible.

01:22:54.820 Like even me,

01:22:55.640 right?

01:22:55.900 Even me.

01:22:58.260 You know,

01:22:58.860 I was walking

01:22:59.500 through a toy store

01:23:01.080 the other day

01:23:01.820 and my daughter

01:23:02.960 really wanted

01:23:04.080 the Elsa

01:23:05.720 frozen flask,

01:23:07.920 right?

01:23:09.300 And in that moment

01:23:10.020 I was just like,

01:23:11.320 okay,

01:23:11.860 do I take the next

01:23:12.780 like 20 minutes

01:23:13.500 of her moaning

01:23:14.020 at me for this

01:23:14.680 or should I just get it?

01:23:16.680 Okay,

01:23:17.120 I'll get it.

01:23:18.240 But now I've given

01:23:18.960 Disney money.

01:23:19.740 You see,

01:23:20.360 that's me.

01:23:21.320 I've given Disney money now.

01:23:23.600 Or I don't know.

01:23:24.920 I want to check out

01:23:25.680 the new Obi-Wan series.

01:23:27.540 Okay,

01:23:27.780 I'll give Disney a tenner

01:23:29.560 for the month

01:23:29.980 or whatever.

01:23:31.060 You know,

01:23:31.320 it's kind of just,

01:23:32.340 I think it's really difficult

01:23:34.300 to,

01:23:35.580 when companies are that big

01:23:37.080 to not,

01:23:38.600 to just not give them

01:23:39.520 any dollar ever,

01:23:40.740 right?

01:23:41.100 Right.

01:23:41.240 I mean,

01:23:41.560 I'm sure there are

01:23:42.040 some principled people

01:23:43.000 who manage it.

01:23:44.480 But in the real world,

01:23:45.600 most people aren't going

01:23:46.340 to manage it.

01:23:46.800 It's just too easy

01:23:47.680 to end up

01:23:50.260 even accidentally

01:23:50.880 giving them money,

01:23:51.760 right?

01:23:52.140 Right.

01:23:52.320 in some way.

01:23:55.000 I should mention

01:23:56.320 this number 12 point,

01:23:57.780 Aaron,

01:23:57.980 which we skipped

01:23:58.980 over a little bit.

01:24:00.200 Sure.

01:24:01.100 This is actually

01:24:02.140 the leverage

01:24:02.780 that comes with

01:24:03.560 being a massive company.

01:24:06.540 Probably the easiest example

01:24:08.240 is the leverage

01:24:09.560 that supermarkets

01:24:10.320 have over farmers.

01:24:12.660 I mean,

01:24:13.020 supermarkets basically

01:24:13.860 dictate the wholesale price

01:24:15.300 of their own supplies.

01:24:16.960 Mm-hmm.

01:24:17.180 Now,

01:24:17.660 imagine you're

01:24:18.480 a family farmer,

01:24:19.780 right?

01:24:20.900 You've got,

01:24:21.740 you know,

01:24:23.040 what is it,

01:24:23.380 Walgreens

01:24:23.940 breathing down your neck.

01:24:26.640 You know,

01:24:27.100 Walgreens want

01:24:27.840 the unit price

01:24:28.660 of sausages

01:24:30.640 to be this

01:24:31.380 or chickens

01:24:32.320 to be that.

01:24:33.880 You're going to say no?

01:24:35.400 Yeah,

01:24:35.700 just lose all

01:24:36.520 of that business

01:24:37.100 just to say no

01:24:38.080 to fight for that one price

01:24:39.240 like they're not going

01:24:39.780 to go to the guy

01:24:40.400 down the street

01:24:40.880 and get the price

01:24:41.460 from him?

01:24:42.580 Yeah.

01:24:43.160 Right.

01:24:43.760 So,

01:24:44.420 they basically

01:24:45.160 have them over a barrel. 0.92

01:24:47.300 You know,

01:24:47.620 my dad worked

01:24:48.900 for the Ford Motor Company

01:24:50.820 for many years.

01:24:53.040 I mean,

01:24:54.220 there's basically

01:24:55.020 an entire industry

01:24:56.200 underneath Fords

01:24:57.120 of companies

01:24:58.700 that exist

01:24:59.340 purely

01:24:59.800 to supply Fords.

01:25:02.080 I.E.,

01:25:02.720 Fords are their 0.96

01:25:03.460 only customer.

01:25:06.080 So,

01:25:06.600 what do you think

01:25:06.900 the leverage

01:25:07.340 of Ford is

01:25:07.980 over that?

01:25:08.500 Over those, yeah.

01:25:09.560 I mean,

01:25:10.280 it's like,

01:25:10.760 okay,

01:25:10.980 are you going

01:25:12.380 to take our offer

01:25:12.860 then?

01:25:13.860 No?

01:25:14.420 All right,

01:25:14.780 then.

01:25:15.140 We'll go,

01:25:16.080 we'll get our

01:25:16.600 little plastic screws

01:25:17.980 from somewhere else.

01:25:19.000 All right,

01:25:19.340 that's my company gone.

01:25:20.880 So,

01:25:21.160 so there's basically

01:25:22.320 no real,

01:25:24.500 you know,

01:25:24.660 when you get

01:25:25.020 economies of scale

01:25:26.220 that big,

01:25:27.040 there's no real

01:25:29.040 power on one side

01:25:30.320 of the negotiation.

01:25:32.380 You can get it

01:25:33.200 on the other end

01:25:33.820 as well.

01:25:35.200 Imagine you're

01:25:35.840 one of those

01:25:36.180 big supermarkets

01:25:37.100 and you're

01:25:39.200 the procurement

01:25:39.740 manager

01:25:40.300 or whatever.

01:25:40.980 are you really

01:25:42.440 going to piss

01:25:42.880 off Coca-Cola

01:25:43.600 so that Coca-Cola

01:25:44.660 pull out of all

01:25:45.300 your stores?

01:25:46.400 Right.

01:25:46.840 I mean,

01:25:47.120 it's just not

01:25:47.620 going to happen,

01:25:48.160 right?

01:25:48.340 It's just not

01:25:48.840 that there's no

01:25:50.280 scenarios in which

01:25:51.580 they're going to

01:25:53.120 allow a situation

01:25:53.940 where a company

01:25:56.020 the size of Coca-Cola

01:25:56.900 pulls its drinks

01:25:57.920 out of all the stores.

01:25:59.940 So,

01:26:00.540 you know,

01:26:02.060 we're talking

01:26:03.480 about the market,

01:26:04.520 right?

01:26:04.860 But so much

01:26:07.220 of the market

01:26:07.740 is static

01:26:08.360 is what I'm saying.

01:26:09.340 It's not going

01:26:10.320 to go in.

01:26:10.800 It's basically

01:26:11.840 like the market

01:26:14.140 has been frozen

01:26:15.120 in kind of like

01:26:16.560 resin for the past,

01:26:17.660 like for all our

01:26:18.540 lives,

01:26:18.900 basically.

01:26:19.760 What we have

01:26:20.300 is a simulation

01:26:21.640 of something

01:26:22.320 that looks like

01:26:23.140 a market.

01:26:23.540 And the reason

01:26:26.400 I mention

01:26:26.900 all of these

01:26:27.480 things

01:26:27.940 are

01:26:30.040 even now,

01:26:32.940 even within

01:26:33.400 the face of

01:26:34.100 all of this

01:26:34.920 that I've just

01:26:35.620 said,

01:26:36.960 you're still

01:26:37.460 even today,

01:26:38.600 I bet you today

01:26:39.460 at least 100

01:26:40.780 articles has been

01:26:41.840 published by

01:26:43.320 Cato and Reason

01:26:44.440 and even sometimes

01:26:45.700 on the Mises Institute.

01:26:46.520 The Mises Institute

01:26:47.040 tend to be better

01:26:47.700 than the others,

01:26:48.320 right?

01:26:48.480 But even

01:26:49.720 on Mises,

01:26:50.260 you'll still

01:26:50.680 see articles

01:26:52.440 defending American

01:26:54.500 capitalism and

01:26:55.980 using Ford's

01:26:57.260 and Coca-Cola

01:26:57.980 and just using

01:27:00.320 these massive

01:27:00.780 corporations as

01:27:01.600 examples of

01:27:02.780 kind of the

01:27:03.560 success story

01:27:04.320 of America,

01:27:05.000 right?

01:27:06.360 It's just like,

01:27:06.900 well,

01:27:07.380 I mean,

01:27:07.740 are you really

01:27:08.380 defending the free

01:27:09.080 market?

01:27:09.460 I mean,

01:27:10.600 by my description,

01:27:11.860 it sounds like

01:27:12.580 you're defending

01:27:13.240 a centrally run

01:27:15.040 command economy.

01:27:16.200 That's what it

01:27:16.580 sounds like to me.

01:27:17.280 And I just

01:27:19.880 struggle to come

01:27:22.700 to terms with

01:27:23.320 anybody who

01:27:24.240 lived through

01:27:24.680 COVID,

01:27:25.220 right,

01:27:25.980 who lived

01:27:26.580 through the

01:27:26.880 pandemic and

01:27:27.540 saw how

01:27:28.000 quickly all

01:27:29.320 aspects of

01:27:29.940 the total

01:27:30.260 state walked

01:27:31.340 in lockstep.

01:27:33.340 How can they

01:27:34.140 still maintain

01:27:34.840 these absolute

01:27:36.000 fictions about

01:27:36.760 the world they

01:27:37.200 live in?

01:27:38.600 Yeah,

01:27:39.180 I think for a

01:27:40.360 lot of people,

01:27:41.380 you know,

01:27:41.900 they will probably

01:27:42.800 go with you on

01:27:43.520 that, right?

01:27:43.960 They'll say,

01:27:44.420 like,

01:27:44.640 we understand

01:27:45.140 that the

01:27:45.460 government influence

01:27:46.300 is bad,

01:27:47.280 and that

01:27:47.720 it's present.

01:27:49.000 Maybe they

01:27:49.560 wouldn't have

01:27:50.020 admitted how

01:27:50.760 present it was

01:27:51.800 until an

01:27:52.400 example like

01:27:53.420 COVID came

01:27:54.120 around,

01:27:54.860 but now

01:27:55.160 they'll say,

01:27:56.140 yeah,

01:27:56.280 it's there.

01:27:57.100 But I think

01:27:57.500 many of them

01:27:58.100 would still

01:27:58.540 say,

01:27:59.180 but the

01:27:59.540 presence of

01:28:00.100 crony

01:28:00.820 capitalism

01:28:01.500 doesn't mean

01:28:03.160 that the

01:28:04.000 free market

01:28:04.400 is still

01:28:04.960 not the

01:28:06.660 best ideal,

01:28:08.140 right?

01:28:08.460 And we've

01:28:09.840 talked about

01:28:10.240 why that's

01:28:11.000 kind of an

01:28:11.500 issue,

01:28:11.880 but I think

01:28:12.440 that would be

01:28:12.800 the response.

01:28:13.620 It's like,

01:28:13.960 well,

01:28:14.200 just because

01:28:14.960 crony

01:28:15.560 capitalism

01:28:15.980 exists

01:28:16.480 doesn't

01:28:16.860 mean that

01:28:17.880 you shouldn't

01:28:18.720 be aiming

01:28:19.100 for the

01:28:19.480 free market.

01:28:20.500 How are you

01:28:21.340 going to

01:28:21.560 stop?

01:28:21.960 You see,

01:28:22.540 here's my

01:28:23.320 problem with

01:28:23.820 that.

01:28:25.040 In the

01:28:25.600 1940s,

01:28:27.520 and beforehand,

01:28:29.500 but I think

01:28:30.060 in the 1940s

01:28:30.880 in particular,

01:28:32.180 and the

01:28:32.480 50s,

01:28:33.500 there were a

01:28:34.240 whole raft

01:28:36.000 of antitrust

01:28:37.620 legislations put

01:28:38.640 through by the

01:28:40.940 government,

01:28:41.240 everyone who

01:28:42.220 had this

01:28:42.540 idea that

01:28:43.120 they wanted

01:28:43.540 to stop

01:28:44.840 these massive

01:28:45.700 firms arising

01:28:47.180 due to some

01:28:48.960 of these

01:28:49.180 problems that

01:28:49.620 we're talking

01:28:50.020 about.

01:28:50.700 They wanted

01:28:51.380 to kind of

01:28:52.020 protect the

01:28:52.660 mom-and-pop

01:28:53.180 store.

01:28:54.980 Now, at

01:28:55.620 the time,

01:28:56.360 free marketeers

01:28:57.000 were against

01:28:57.420 that, and

01:28:58.400 they're still

01:28:58.720 against antitrust

01:28:59.480 laws.

01:29:00.640 So my

01:29:01.300 question, if

01:29:01.880 you're going

01:29:02.100 to maintain

01:29:02.580 a kind of

01:29:03.000 absolutist

01:29:03.600 free market

01:29:04.080 position,

01:29:04.620 is when

01:29:06.380 you get

01:29:07.900 mass and

01:29:08.400 scale,

01:29:09.080 which is the

01:29:09.580 result of

01:29:10.400 successful

01:29:10.920 capital

01:29:11.240 it was the

01:29:12.620 result of

01:29:13.360 the industrial

01:29:14.060 revolution in

01:29:14.880 this country,

01:29:16.040 it was the

01:29:16.360 result of

01:29:17.560 the so-called

01:29:18.680 gilded age in

01:29:19.480 America,

01:29:19.980 right?

01:29:21.340 Massive

01:29:21.900 growth,

01:29:22.780 massive economies

01:29:23.440 of scale.

01:29:25.420 How do you

01:29:26.340 stop the

01:29:26.940 emergence of

01:29:27.960 what we

01:29:28.300 describe, or

01:29:29.040 what Burnham

01:29:29.420 describes as

01:29:30.040 managerialism,

01:29:31.060 this process

01:29:31.840 that we've been

01:29:32.280 talking through,

01:29:33.380 how do you

01:29:33.920 stop that

01:29:34.320 happening?

01:29:36.220 Especially if

01:29:36.960 you're not

01:29:37.240 prepared to

01:29:37.900 back laws

01:29:39.280 that basically

01:29:40.420 nerf certain

01:29:41.800 companies,

01:29:42.720 right?

01:29:43.280 I mean,

01:29:43.720 if you look

01:29:44.660 at those

01:29:45.080 antitrust

01:29:45.900 cases in

01:29:47.440 the 40s,

01:29:47.960 I've got a

01:29:48.380 book here,

01:29:49.900 I can't

01:29:50.360 remember the

01:29:50.780 guy who

01:29:51.360 wrote it,

01:29:51.740 but it's a

01:29:52.640 libertarian

01:29:53.240 book,

01:29:53.860 which goes

01:29:54.380 through very

01:29:55.220 many antitrust

01:29:56.320 cases and

01:29:57.420 argues that

01:29:58.100 these antitrust

01:29:58.700 laws should have

01:29:59.200 been abolished,

01:29:59.940 right?

01:30:00.240 And many of

01:30:01.520 them were

01:30:01.860 abolished later

01:30:02.840 on.

01:30:04.080 But many of

01:30:05.060 them were

01:30:05.240 trying to

01:30:05.520 stop this,

01:30:06.020 they were

01:30:06.240 trying to

01:30:06.540 stop massive

01:30:10.640 corporations

01:30:11.440 leveraging their

01:30:12.740 position in the

01:30:13.300 market to get

01:30:14.100 cheaper kind of

01:30:16.800 unit goods.

01:30:18.480 Now, the

01:30:18.720 libertarian would

01:30:19.320 always say,

01:30:19.880 well, yeah,

01:30:21.300 but you screw 0.93

01:30:22.280 in the consumer

01:30:22.940 because they now

01:30:24.160 have to pay a

01:30:24.920 couple of cents

01:30:26.080 more for whatever

01:30:27.880 the salt or

01:30:28.780 whatever it happens

01:30:29.320 to be.

01:30:30.040 You're actually

01:30:30.620 retarding the 1.00

01:30:31.860 operation of the

01:30:32.660 market, they'd

01:30:33.220 say.

01:30:33.440 But what I

01:30:35.280 would say is

01:30:36.040 what if there's

01:30:39.040 another way of

01:30:40.880 looking at the

01:30:41.400 problem, which

01:30:42.140 is you're

01:30:43.460 facilitating, by

01:30:44.660 allowing that

01:30:45.400 free reign,

01:30:46.520 you're facilitating

01:30:47.100 exactly what we

01:30:48.400 described here,

01:30:49.220 which is the

01:30:50.160 growth of

01:30:50.600 Leviathan.

01:30:51.560 You get these

01:30:52.200 monsters, and

01:30:53.380 now, in

01:30:54.340 2023, you

01:30:56.980 know, we're

01:30:57.580 faced with this

01:30:58.300 bearing down on

01:30:59.120 all of us, and

01:31:00.360 it's like, well,

01:31:01.760 you know, I

01:31:02.700 mean, the

01:31:03.720 U.S.

01:31:04.120 government, right,

01:31:04.960 Joe Biden, doesn't

01:31:06.380 have to do

01:31:06.840 anything most of

01:31:07.460 the time because

01:31:08.100 his bidding is

01:31:09.240 done for him by

01:31:10.500 every CEO and

01:31:11.520 every massive

01:31:11.980 corporation going.

01:31:14.200 Does anybody

01:31:14.660 remember how many

01:31:15.400 of them came out

01:31:16.040 in support of

01:31:16.860 BLM and all 1.00

01:31:17.780 these other

01:31:18.140 groups?

01:31:18.920 I mean, this

01:31:19.260 was, you

01:31:20.800 know, this was

01:31:21.400 the, you

01:31:22.680 know, the

01:31:23.140 so-called

01:31:24.180 private sector

01:31:26.240 doing all of

01:31:26.900 this.

01:31:27.340 It wasn't the

01:31:27.760 government doing

01:31:28.260 it.

01:31:28.480 you know, you

01:31:31.300 didn't even

01:31:32.160 need an edict

01:31:33.740 coming down from

01:31:34.460 the government.

01:31:35.300 It all happened

01:31:36.060 kind of, you

01:31:37.260 know, privately,

01:31:39.520 quote-unquote.

01:31:40.600 So what do you

01:31:42.220 do about that?

01:31:44.080 Yeah, I think

01:31:44.900 there's a really

01:31:45.680 difficult truth

01:31:47.460 that a lot of

01:31:48.260 conservatives or

01:31:49.260 people on the

01:31:49.800 right might have

01:31:50.600 to come to,

01:31:51.500 which is that

01:31:52.160 the economies of

01:31:54.140 scale, the

01:31:54.600 massification, the

01:31:55.820 leviathan, is

01:31:57.600 a huge problem

01:31:59.100 and assuming

01:32:00.240 that like woke

01:32:01.800 capital is a

01:32:02.840 function of

01:32:03.920 some very

01:32:05.300 recent corruption

01:32:07.180 of kind of

01:32:08.720 the market

01:32:09.580 system as

01:32:11.960 opposed to

01:32:12.480 kind of an

01:32:12.960 inevitable

01:32:13.480 consequence of

01:32:15.520 this kind of

01:32:17.020 centralization of

01:32:18.320 power and

01:32:19.020 distribution of

01:32:20.760 ideology, I

01:32:21.640 think is

01:32:22.120 something a lot

01:32:23.140 of people are

01:32:23.540 really uncomfortable

01:32:24.140 thinking about,

01:32:24.760 but they're going

01:32:25.100 to have to

01:32:25.480 start if

01:32:25.960 they're going

01:32:26.160 to grapple

01:32:27.400 with this in

01:32:27.940 any meaningful

01:32:28.440 way.

01:32:30.320 Yeah, I mean,

01:32:31.000 but the thing

01:32:32.200 is to get any

01:32:32.780 of these solutions

01:32:33.420 out on, you

01:32:33.820 have to wield

01:32:34.620 power, right?

01:32:35.840 Right.

01:32:36.060 I mean, if I

01:32:36.540 had my way,

01:32:38.140 one of the

01:32:38.740 great private

01:32:40.820 institutions of

01:32:41.940 America that I

01:32:42.680 would just

01:32:43.360 outright ban

01:32:44.340 are NGOs.

01:32:46.940 Yeah.

01:32:47.440 Just like private

01:32:48.440 lobby groups.

01:32:50.460 You know,

01:32:50.700 why should, I

01:32:53.300 mean, I don't

01:32:53.960 want to get

01:32:54.200 anybody into

01:32:54.580 trouble, but

01:32:55.220 why should

01:32:56.340 the ADL be

01:32:57.080 allowed to

01:32:57.420 operate and

01:32:57.960 wield the

01:32:58.340 amount of

01:32:58.640 power it

01:32:59.020 does?

01:32:59.800 Oh, it's

01:33:00.060 a free

01:33:00.320 country.

01:33:01.160 Oh, right.

01:33:02.120 Oh, right.

01:33:02.700 Okay.

01:33:03.920 Do you understand

01:33:04.560 what I'm saying?

01:33:05.140 It's like, well,

01:33:06.420 you know, all

01:33:08.100 of these things

01:33:08.620 exist too.

01:33:09.420 And this is

01:33:09.720 all part of

01:33:10.260 a free society

01:33:11.060 to have

01:33:11.740 private

01:33:14.360 organizations

01:33:15.200 kind of

01:33:16.580 lobbying and

01:33:18.500 telling people

01:33:19.200 how to run

01:33:19.600 their lives.

01:33:20.100 exerting

01:33:21.420 massive

01:33:21.820 influence

01:33:22.420 on speech

01:33:24.240 as we've

01:33:24.660 seen on a

01:33:25.020 regular

01:33:25.220 basis.

01:33:26.820 All right.

01:33:27.520 Well, let's

01:33:28.180 go ahead and

01:33:28.840 hit these

01:33:29.880 super chats

01:33:31.380 real quick

01:33:31.980 before you've

01:33:32.740 got to run

01:33:33.100 over to your

01:33:33.980 channel and

01:33:34.460 get your show

01:33:35.080 started.

01:33:35.540 So falling

01:33:36.600 outside normal

01:33:37.860 constraints here

01:33:38.680 for $2.

01:33:39.760 The Blaze to

01:33:40.280 Elite Theory

01:33:40.760 pipeline is

01:33:42.000 operational.

01:33:42.880 Yep,

01:33:43.040 absolutely here.

01:33:45.040 Thank you very

01:33:45.560 much.

01:33:49.640 C123,

01:33:51.060 $2.

01:33:53.000 Capitalism,

01:33:53.680 ho, 0.99

01:33:54.080 more like

01:33:54.820 capitalism,

01:33:55.880 no.

01:33:57.740 Have you

01:33:58.900 completely

01:33:59.320 abandoned the

01:34:00.980 idea of

01:34:01.360 capitalism,

01:34:02.220 academic agent?

01:34:04.120 Is that what's

01:34:04.840 happening?

01:34:06.060 No.

01:34:06.760 Some of the

01:34:07.100 fundamentals about

01:34:08.920 resource allocation,

01:34:11.580 price signals,

01:34:13.000 you know,

01:34:13.320 Mises 101

01:34:14.160 stuff.

01:34:16.220 You know,

01:34:16.480 there's a reason

01:34:17.080 why the

01:34:18.500 Soviet Union

01:34:19.200 sucked as

01:34:19.860 badly as it

01:34:20.440 did,

01:34:20.740 right?

01:34:22.320 You know,

01:34:22.700 so I'm

01:34:24.040 not saying

01:34:24.760 that markets

01:34:29.760 can't achieve

01:34:30.460 anything or

01:34:31.060 there can't

01:34:31.540 be little

01:34:32.120 pockets of

01:34:33.220 free market

01:34:33.740 here or

01:34:34.140 there.

01:34:35.600 What I'm

01:34:36.660 pointing out

01:34:37.260 is that the

01:34:37.820 reality of what

01:34:38.480 we live under

01:34:39.200 is actually a

01:34:40.220 lot closer to

01:34:40.740 the Soviet

01:34:41.100 Union than

01:34:41.560 it is to

01:34:42.200 anything

01:34:44.220 approaching the

01:34:44.800 free market

01:34:45.340 and the

01:34:46.660 free market

01:34:47.260 in and of

01:34:47.740 itself gives

01:34:48.580 rise to

01:34:49.060 this almost

01:34:50.060 inevitably.

01:34:50.900 It's like

01:34:51.160 I just

01:34:53.020 I don't see

01:34:54.780 a scenario

01:34:55.300 where you

01:34:57.060 don't get

01:34:57.880 the state

01:34:59.020 deciding,

01:34:59.840 well,

01:35:00.400 we're going

01:35:01.960 to provide

01:35:02.320 the startup

01:35:02.800 capital for

01:35:03.500 this because

01:35:04.020 one,

01:35:05.060 we have

01:35:05.340 enough money.

01:35:06.300 We're the

01:35:06.860 only people

01:35:07.240 who've got

01:35:07.520 enough money

01:35:07.880 to do

01:35:08.180 this.

01:35:09.340 And two,

01:35:10.020 we need

01:35:10.380 it for

01:35:10.800 X,

01:35:11.120 Y,

01:35:11.300 and Z

01:35:11.440 to be

01:35:11.840 more

01:35:12.040 competitive

01:35:12.420 than

01:35:12.700 China or 0.92

01:35:13.460 more

01:35:13.980 competitive

01:35:14.360 than

01:35:14.580 Russia or 0.72

01:35:15.040 whatever.

01:35:17.280 And I

01:35:17.960 mean,

01:35:18.760 this is

01:35:19.680 probably

01:35:19.880 something that

01:35:20.500 is beyond

01:35:21.600 the scope

01:35:22.000 of this

01:35:22.280 stream,

01:35:22.820 but I

01:35:23.960 have had

01:35:24.400 some

01:35:24.600 thoughts

01:35:24.900 sometimes.

01:35:25.440 it's

01:35:25.640 like,

01:35:25.880 well,

01:35:26.760 we have

01:35:28.140 to look

01:35:28.500 at the

01:35:28.780 actual

01:35:29.160 data that's

01:35:30.260 come in,

01:35:30.640 the evidence,

01:35:31.280 right?

01:35:32.820 I mean,

01:35:33.180 China's been 1.00

01:35:33.740 pretty successful

01:35:34.540 on its

01:35:35.260 state-backed

01:35:36.300 model.

01:35:38.120 South Korea

01:35:38.800 was pretty

01:35:39.340 damn

01:35:39.600 successful

01:35:40.080 on its

01:35:40.720 state-backed

01:35:41.300 model.

01:35:43.220 Great

01:35:43.620 Britain,

01:35:44.180 after embracing

01:35:45.840 laissez-faire,

01:35:47.360 basically destroyed

01:35:48.180 its industrial

01:35:48.860 sector in

01:35:49.900 50 years

01:35:50.580 after being

01:35:51.400 the world

01:35:51.740 leader.

01:35:52.060 America,

01:35:54.540 after going

01:35:55.240 all out

01:35:55.940 neoliberal,

01:35:57.760 destroyed its

01:35:58.300 industrial sector

01:35:59.100 and created

01:35:59.540 the Rust Belt

01:36:00.160 and lost

01:36:02.400 tons of jobs

01:36:03.100 to China.

01:36:04.460 I mean,

01:36:05.720 at what

01:36:06.400 point do

01:36:07.180 we just

01:36:08.840 stick with

01:36:09.540 a kind of

01:36:09.980 dogma that

01:36:10.540 says,

01:36:10.880 oh,

01:36:11.020 well,

01:36:11.820 complete free

01:36:12.460 market is

01:36:13.100 the best

01:36:14.820 versus the 0.55

01:36:15.840 actual facts,

01:36:17.220 which are

01:36:17.900 in the space

01:36:19.480 of 30

01:36:19.980 years,

01:36:20.380 China went 0.84

01:36:20.860 from being

01:36:21.480 wherever they

01:36:24.460 were 30

01:36:25.020 years ago

01:36:25.480 to the

01:36:25.800 second biggest

01:36:27.340 economy in

01:36:27.800 the world,

01:36:28.160 if not the

01:36:28.660 first biggest

01:36:29.080 economy in

01:36:29.500 the world.

01:36:31.160 Sure,

01:36:31.840 they've also

01:36:32.420 manufactured some

01:36:33.240 big issues for

01:36:34.000 themselves down

01:36:34.680 the line,

01:36:35.200 though,

01:36:35.500 too,

01:36:35.920 and there's

01:36:36.560 big questions

01:36:37.500 about whether

01:36:38.180 China's economy

01:36:39.400 can even do

01:36:40.260 what it did

01:36:40.780 without the

01:36:41.280 presence of

01:36:41.920 something like

01:36:42.640 America to

01:36:43.260 create the

01:36:43.600 market for

01:36:44.380 that.

01:36:45.560 Yeah,

01:36:45.740 but think of

01:36:46.320 how stupid

01:36:46.680 that is.

01:36:47.460 Oh,

01:36:47.660 yeah,

01:36:47.840 we're going

01:36:48.020 to freely

01:36:48.340 trade goods

01:36:50.660 with China.

01:36:52.580 We're going

01:36:52.680 to create

01:36:54.200 an absolute

01:36:55.460 monster

01:36:56.140 rival.

01:36:57.920 Oh,

01:36:58.200 yeah,

01:36:58.400 yeah,

01:36:58.600 no,

01:36:58.880 America,

01:36:59.380 yeah,

01:36:59.600 we might

01:36:59.860 fail one

01:37:01.040 day.

01:37:01.520 Well,

01:37:01.600 how am I

01:37:01.820 not fucking

01:37:02.280 doing it

01:37:02.620 in the

01:37:02.760 first place?

01:37:03.780 Sure.

01:37:04.660 Sorry,

01:37:05.100 but you

01:37:05.340 understand what

01:37:05.940 I'm saying.

01:37:06.420 It's like,

01:37:06.700 well,

01:37:07.560 you know,

01:37:08.540 they didn't

01:37:09.300 have to,

01:37:10.540 and this

01:37:11.340 is another

01:37:12.100 way of

01:37:12.700 thinking about

01:37:13.220 it,

01:37:13.340 which is

01:37:13.640 that when

01:37:15.740 you're a

01:37:16.480 global

01:37:16.840 hegemon,

01:37:17.440 as the

01:37:17.800 British Empire

01:37:18.360 was at

01:37:18.820 one point,

01:37:20.940 laissez-faire

01:37:21.460 is a

01:37:22.920 very effective

01:37:23.760 tool of

01:37:24.360 control,

01:37:25.520 because it

01:37:26.100 brings other

01:37:27.300 countries,

01:37:29.000 even if they're

01:37:29.780 reluctant,

01:37:30.420 into your

01:37:31.140 sphere of

01:37:31.580 influence and

01:37:32.000 into your

01:37:32.380 network.

01:37:33.440 Okay,

01:37:33.820 and if they

01:37:34.460 resist that,

01:37:35.580 you can always

01:37:36.080 bring the

01:37:36.400 gun boats out,

01:37:37.460 which is what

01:37:37.720 the British

01:37:38.000 actually did

01:37:38.700 in practice.

01:37:39.640 Okay,

01:37:39.860 you know,

01:37:40.840 if you resist

01:37:41.760 China,

01:37:42.820 there's the

01:37:43.140 opium wars

01:37:43.700 to come.

01:37:44.500 Okay,

01:37:44.720 you will

01:37:45.540 become part

01:37:46.320 of our

01:37:46.600 network.

01:37:47.000 Okay,

01:37:47.700 but the

01:37:48.400 problem is,

01:37:49.020 is that

01:37:49.460 once you

01:37:51.060 actually start

01:37:52.980 living by

01:37:53.940 free trade,

01:37:56.080 it's like,

01:37:56.900 well,

01:37:57.980 yeah,

01:37:59.740 but they

01:38:01.180 are going to

01:38:01.600 follow the

01:38:01.940 logic of the

01:38:02.480 cheapest good,

01:38:03.140 right?

01:38:03.720 The cheapest

01:38:04.180 labor market,

01:38:05.100 you are going

01:38:05.820 to lose out

01:38:06.540 to the

01:38:07.780 less developed

01:38:08.300 nation,

01:38:08.960 because the

01:38:10.060 jobs are

01:38:10.400 going to go,

01:38:10.740 I mean,

01:38:11.000 we've seen

01:38:11.720 this process.

01:38:13.020 And it's the

01:38:13.720 same thing

01:38:14.100 with America.

01:38:14.880 When America

01:38:15.520 was the global

01:38:16.100 hegemon,

01:38:17.000 it became,

01:38:17.960 like in the

01:38:18.360 19th century,

01:38:19.060 America was

01:38:19.560 not a

01:38:19.940 laissez-faire

01:38:20.280 nation.

01:38:20.960 It was a

01:38:21.260 very protectionist

01:38:21.880 nation,

01:38:22.600 as Steve

01:38:23.100 Bannon will

01:38:23.520 tell you over

01:38:24.040 and over

01:38:24.320 again,

01:38:24.620 right?

01:38:25.220 When it

01:38:25.720 became the

01:38:26.080 hegemon,

01:38:27.020 it then

01:38:27.420 became

01:38:27.740 advantageous

01:38:28.920 to say,

01:38:29.420 well,

01:38:30.340 now we're

01:38:31.240 running the

01:38:31.600 network.

01:38:32.460 Now we want

01:38:33.360 you in our

01:38:34.200 free trade

01:38:35.540 network,

01:38:36.060 right?

01:38:37.160 Which works

01:38:38.400 until it

01:38:39.860 doesn't work,

01:38:40.780 because you're

01:38:41.620 basically creating

01:38:42.540 the next

01:38:42.960 monster.

01:38:44.960 And that's

01:38:45.340 what's

01:38:46.140 happened over

01:38:46.580 and over

01:38:46.840 again.

01:38:47.840 In a

01:38:48.260 strange way,

01:38:49.140 America was

01:38:49.820 the bloody

01:38:50.500 monster creation

01:38:52.040 of British

01:38:53.260 laissez-faire.

01:38:53.800 when they

01:38:56.220 passed the

01:38:56.660 corn laws,

01:38:57.900 you can read

01:38:58.500 all about

01:38:58.840 this in my,

01:39:00.020 even though

01:39:00.340 it's a

01:39:00.520 defense of

01:39:00.980 the free

01:39:01.200 market,

01:39:01.520 you can

01:39:01.720 actually still

01:39:02.220 see the

01:39:02.640 underlying

01:39:02.980 data in

01:39:04.240 the Defenders

01:39:04.900 of Liberty.

01:39:05.980 When they

01:39:06.720 repealed the

01:39:07.160 corn laws,

01:39:08.520 it basically

01:39:09.240 destroyed

01:39:09.940 British

01:39:10.280 agriculture,

01:39:11.400 like hundreds

01:39:12.600 of farms,

01:39:13.700 probably like

01:39:14.080 80% of the

01:39:15.080 agricultural

01:39:15.520 economy went

01:39:16.460 tits up, 0.98

01:39:18.660 basically.

01:39:20.480 And all

01:39:22.100 of the

01:39:22.560 corn,

01:39:23.800 wheat,

01:39:24.680 wheat,

01:39:25.180 wheat,

01:39:25.700 we'd say

01:39:26.040 now,

01:39:26.960 and various

01:39:28.020 other goods

01:39:28.580 were imported

01:39:30.540 into Britain

01:39:31.080 from where?

01:39:32.140 From America. 0.94

01:39:33.860 So the

01:39:35.000 America became 0.63

01:39:37.560 like a kind

01:39:37.960 of agricultural

01:39:38.500 powerhouse in

01:39:39.200 the 19th

01:39:39.600 century,

01:39:40.400 largely

01:39:40.880 thanks to

01:39:41.340 the death

01:39:41.980 of British

01:39:42.280 agriculture,

01:39:42.800 which was

01:39:43.880 afforded by

01:39:44.380 what?

01:39:44.840 Laissez-faire.

01:39:46.240 So you

01:39:47.240 can see,

01:39:48.580 you know,

01:39:49.760 in a strange

01:39:50.320 way,

01:39:50.620 Britain then

01:39:51.140 helped build

01:39:51.740 America up

01:39:52.420 and then

01:39:52.800 America took 0.93

01:39:53.900 over Britain.

01:39:56.180 Many such

01:39:56.960 cases.

01:39:57.640 All right,

01:39:57.980 so Ed

01:39:58.480 here for

01:39:59.240 $5.

01:40:00.580 Conservatives

01:40:01.100 refused to

01:40:01.620 realize that

01:40:02.120 the game

01:40:02.600 checkers turned

01:40:04.040 into a game

01:40:04.620 of Rochambeau

01:40:05.380 decades ago.

01:40:06.680 Yep,

01:40:06.940 absolutely.

01:40:07.620 Thank you

01:40:07.960 very much

01:40:08.540 for your

01:40:09.000 donation.

01:40:09.640 Always

01:40:09.980 kind of

01:40:10.580 not

01:40:11.740 understanding

01:40:12.400 where they

01:40:13.400 are,

01:40:13.800 what time

01:40:14.200 it is,

01:40:14.580 has

01:40:14.760 unfortunately

01:40:15.380 been a

01:40:15.840 feature of

01:40:16.440 conservative

01:40:17.160 politics for

01:40:18.040 many years.

01:40:18.720 general

01:40:20.780 grievance

01:40:21.300 for $5.

01:40:22.380 I just

01:40:22.860 spent $6,000

01:40:23.760 getting my

01:40:24.240 truck fixed,

01:40:24.880 but I'm

01:40:25.300 not in

01:40:25.740 the poor

01:40:26.140 house yet,

01:40:27.200 so here's

01:40:27.520 a $5.

01:40:28.000 Keep up

01:40:28.300 the good

01:40:28.620 work,

01:40:28.960 bro.

01:40:29.100 Well,

01:40:29.260 thank you

01:40:29.520 very much,

01:40:29.960 man.

01:40:30.080 I appreciate

01:40:30.480 it.

01:40:30.820 I hope

01:40:31.140 better luck

01:40:32.300 with your

01:40:32.560 truck at

01:40:33.320 this point

01:40:33.780 due to

01:40:34.200 the weird,

01:40:34.920 are cars

01:40:35.580 still appreciating

01:40:36.680 the way they

01:40:37.200 were before?

01:40:37.960 Where like

01:40:38.160 it was

01:40:39.820 like used

01:40:41.020 cars kept

01:40:41.560 going up

01:40:42.040 and up.

01:40:42.500 It was

01:40:42.700 very odd.

01:40:44.260 Is that still

01:40:44.880 happening?

01:40:45.320 Is that

01:40:45.560 phenomenon still

01:40:46.300 going on?

01:40:47.100 I have

01:40:48.600 no idea,

01:40:49.340 but I'm

01:40:50.720 just about

01:40:51.180 to buy

01:40:51.620 my car

01:40:52.160 outright.

01:40:52.740 I got

01:40:53.360 my car

01:40:53.940 on,

01:40:54.540 what do

01:40:54.840 they call

01:40:55.080 it,

01:40:55.200 higher

01:40:55.440 purchase

01:40:55.920 years ago,

01:40:57.340 and now

01:40:57.900 it's run

01:40:58.260 out.

01:40:59.480 Is that

01:40:59.600 like a

01:40:59.880 lease?

01:41:01.100 Yeah,

01:41:01.560 like a

01:41:01.820 lease thing.

01:41:03.180 I got

01:41:04.120 a special

01:41:04.680 deal from

01:41:05.240 my dad,

01:41:06.060 so it

01:41:06.260 was like

01:41:06.740 a massive

01:41:09.220 discount or

01:41:09.880 whatever.

01:41:10.260 Using your

01:41:10.720 nepotism,

01:41:11.380 yes.

01:41:11.840 Yeah,

01:41:12.020 but now

01:41:12.360 he's

01:41:13.240 retired,

01:41:13.800 and I

01:41:13.920 don't get

01:41:14.180 the deal

01:41:14.500 anymore,

01:41:14.920 so I'm

01:41:15.140 just going

01:41:15.340 to buy it

01:41:16.360 outright.

01:41:17.100 So hopefully

01:41:18.260 yes,

01:41:18.700 hopefully it

01:41:19.140 keeps on

01:41:19.440 appreciating,

01:41:20.140 because I

01:41:20.420 don't want

01:41:22.180 my,

01:41:23.320 they said

01:41:23.960 they're going

01:41:24.160 to ban

01:41:24.500 cars by

01:41:24.900 2030,

01:41:25.560 aren't they?

01:41:27.200 Yes,

01:41:27.880 yeah,

01:41:28.200 no,

01:41:28.480 California

01:41:28.900 has been

01:41:29.240 talking about

01:41:29.820 that,

01:41:30.080 no gas

01:41:30.460 powered

01:41:30.780 cars by

01:41:31.940 2030.

01:41:33.460 James,

01:41:34.120 here for

01:41:35.060 Five Pounds,

01:41:35.880 says,

01:41:36.160 is the

01:41:36.560 Anglosphere

01:41:37.080 particularly

01:41:37.540 damaged by

01:41:38.120 multiculturalism

01:41:39.100 due to

01:41:39.780 common law?

01:41:40.600 No shared

01:41:41.020 morality,

01:41:41.740 no shared

01:41:42.200 values,

01:41:43.200 law cannot

01:41:44.280 function.

01:41:44.980 What do

01:41:45.280 you think

01:41:45.460 about

01:41:45.780 that,

01:41:47.140 A,

01:41:47.480 the

01:41:47.820 Anglosphere

01:41:48.480 damage due

01:41:49.620 to common

01:41:50.060 law,

01:41:50.400 not able

01:41:50.820 to resist

01:41:51.360 multiculturalism? 0.50

01:41:56.520 I don't

01:41:57.180 know about

01:41:57.620 that.

01:41:57.980 I mean,

01:41:58.140 I have

01:41:58.620 this

01:41:59.080 controversial

01:41:59.500 idea that

01:42:00.320 culture is

01:42:00.940 downstream from

01:42:01.900 law,

01:42:02.280 right?

01:42:04.160 My,

01:42:04.880 I mean,

01:42:05.380 I understand

01:42:05.960 all the

01:42:06.360 arguments for

01:42:07.240 common

01:42:07.560 law.

01:42:07.920 my sense

01:42:10.080 has always

01:42:10.540 been from

01:42:11.560 reading

01:42:11.860 Hayek and

01:42:12.480 others.

01:42:14.440 The immediate

01:42:15.200 question I

01:42:15.680 have is like,

01:42:16.040 well,

01:42:16.140 how do you

01:42:16.580 stop what

01:42:17.140 Americans

01:42:17.580 call judicial

01:42:18.920 activism?

01:42:20.120 All you need

01:42:20.800 is one

01:42:21.140 activist judge

01:42:21.840 and they

01:42:22.620 basically

01:42:22.960 created a

01:42:23.620 new precedent.

01:42:24.500 So to

01:42:26.420 me,

01:42:26.700 it's too

01:42:27.620 easy to

01:42:28.060 game.

01:42:28.920 It's too

01:42:29.500 easy to

01:42:29.780 game common

01:42:30.240 law.

01:42:31.500 All you need

01:42:32.560 is one

01:42:32.840 activist judge

01:42:33.500 and that's

01:42:34.060 it.

01:42:34.320 You're

01:42:34.400 buggered.

01:42:35.380 Yeah,

01:42:35.760 absolutely.

01:42:36.220 Let's

01:42:37.600 see here.

01:42:38.320 Bella

01:42:38.500 Phosphorus

01:42:39.000 night for

01:42:40.020 $2.

01:42:41.300 America

01:42:41.700 does love

01:42:42.240 its managers.

01:42:43.100 Just ask

01:42:44.040 Hamilton.

01:42:45.240 Yeah,

01:42:45.700 I mean,

01:42:45.920 the Hamilton

01:42:46.400 Jeffersonian

01:42:47.620 showdown never

01:42:48.640 really went

01:42:49.500 away.

01:42:50.120 We're still

01:42:50.800 doing the

01:42:52.520 Federalist

01:42:52.960 Anti-Federalist

01:42:53.740 dance,

01:42:54.240 but the

01:42:54.620 Federalists

01:42:55.680 won pretty

01:42:56.380 handily,

01:42:56.900 so it's

01:42:57.160 kind of a

01:42:57.800 ghost dance

01:42:58.360 in many

01:42:58.720 ways,

01:42:59.120 but you're

01:43:00.160 right about

01:43:00.560 that.

01:43:01.020 I'll tell

01:43:01.160 you what's

01:43:01.400 a really

01:43:01.640 good book

01:43:02.080 on Hamilton

01:43:02.700 in particular

01:43:03.880 is that

01:43:04.900 Patrick

01:43:05.280 Deneen book.

01:43:06.220 It's called

01:43:07.660 After Liberalism

01:43:08.420 or something.

01:43:08.840 I can't

01:43:08.980 remember what

01:43:09.200 it's called.

01:43:10.480 Why Liberalism

01:43:12.260 Failed.

01:43:14.060 He's

01:43:14.540 particularly

01:43:14.840 good on

01:43:15.160 the Federalists.

01:43:17.260 His theory

01:43:18.080 that the

01:43:18.660 Federalists

01:43:19.520 always intended

01:43:20.180 for the

01:43:20.440 state to

01:43:20.760 grow.

01:43:21.460 It's kind

01:43:21.680 of quite

01:43:21.940 convincing

01:43:22.240 actually.

01:43:22.880 I think

01:43:24.560 that's a

01:43:24.960 fair point.

01:43:26.100 Let me

01:43:26.540 track down

01:43:27.180 our next

01:43:27.560 one here.

01:43:29.300 Sorry

01:43:29.560 guys,

01:43:30.000 lots of

01:43:30.440 chat trying

01:43:30.980 to make

01:43:31.240 sure I'm

01:43:31.600 getting

01:43:31.760 everybody.

01:43:34.320 Sean

01:43:34.880 Weiland

01:43:35.220 for

01:43:35.500 $4.99.

01:43:36.260 Thank you

01:43:36.480 very much,

01:43:36.920 sir.

01:43:37.200 Credit

01:43:37.380 from the

01:43:37.700 total

01:43:37.900 state

01:43:38.240 crowds

01:43:38.800 out

01:43:39.760 genuine

01:43:40.520 profit

01:43:41.400 seeking.

01:43:42.400 This is

01:43:42.640 what my

01:43:45.680 forthcoming

01:43:46.080 book covers

01:43:46.640 and I

01:43:47.300 deal with

01:43:47.860 daily in

01:43:48.880 exit

01:43:49.320 planning.

01:43:49.880 All

01:43:52.020 right.

01:43:52.460 Sean,

01:43:53.000 if you've

01:43:53.660 got a

01:43:53.960 book coming

01:43:54.360 out,

01:43:54.580 thanks for

01:43:56.100 letting

01:43:56.280 everybody

01:43:56.640 know.

01:43:57.600 Let's

01:43:57.800 see.

01:43:59.900 Yep,

01:44:00.480 fair enough.

01:44:00.960 All right,

01:44:01.300 let's go

01:44:01.780 ahead and

01:44:02.340 move on.

01:44:02.840 Thank you

01:44:03.040 very much.

01:44:08.600 Hunting

01:44:09.040 down

01:44:09.360 super

01:44:09.680 chats.

01:44:13.040 While I'm

01:44:13.720 hunting down

01:44:14.200 the next

01:44:14.500 one,

01:44:14.880 can you

01:44:15.340 let anyone

01:44:16.280 who's

01:44:16.560 unfamiliar

01:44:16.900 with your

01:44:18.720 stuff,

01:44:18.900 I'm sure

01:44:19.260 most people

01:44:19.780 know,

01:44:20.120 but can

01:44:20.860 you tell

01:44:21.300 people where

01:44:21.680 to go to

01:44:22.060 find your

01:44:22.440 stuff?

01:44:23.680 Yeah,

01:44:23.880 if you go

01:44:24.140 to academic

01:44:25.240 agent on

01:44:25.860 YouTube,

01:44:26.120 you'll find

01:44:26.840 all my

01:44:27.120 stuff there.

01:44:28.040 You can

01:44:28.260 also go,

01:44:28.980 I sell

01:44:29.340 courses.

01:44:30.620 It's the

01:44:30.800 main way I

01:44:31.220 make my

01:44:31.500 living these

01:44:32.660 days.

01:44:33.540 Top

01:44:33.820 quality

01:44:34.200 courses at

01:44:36.140 the academic

01:44:36.620 agency.

01:44:37.200 I'm actually

01:44:37.440 doing a

01:44:37.840 sale at

01:44:38.220 the moment.

01:44:39.240 If you

01:44:39.440 use promo

01:44:40.100 code

01:44:40.580 short

01:44:41.060 Jan,

01:44:42.460 short

01:44:43.020 Jan,

01:44:44.260 you'll get

01:44:45.040 25% of

01:44:45.900 all courses.

01:44:46.800 So do

01:44:47.760 pick up a

01:44:48.200 course.

01:44:48.900 That will

01:44:49.280 help me

01:44:49.580 out a

01:44:50.060 good bit.

01:44:51.640 Absolutely.

01:44:53.120 Let's see

01:44:53.780 here.

01:44:54.060 We got

01:44:54.300 Pablo

01:44:55.620 Panish and

01:44:57.220 I think

01:44:57.980 those are

01:44:58.300 pesos.

01:44:58.840 Thank you

01:44:59.080 very much.

01:45:00.100 I'm not

01:45:00.480 sure how

01:45:00.760 much that

01:45:01.140 translates to,

01:45:01.920 but I

01:45:02.120 appreciate it.

01:45:03.040 Peter Thiel

01:45:03.600 famously said,

01:45:04.740 you can't be

01:45:05.500 profitable in

01:45:06.440 a free

01:45:07.040 competition

01:45:08.920 market.

01:45:09.440 Competition is

01:45:10.000 for losers.

01:45:10.960 Similar to

01:45:11.440 people who

01:45:11.920 want to be

01:45:12.420 left alone

01:45:13.040 will lose

01:45:13.900 against those

01:45:14.680 who want to

01:45:15.640 win.

01:45:15.840 I think

01:45:16.740 pretty much

01:45:17.600 all of

01:45:18.020 the famous

01:45:19.260 American

01:45:20.200 capitalists

01:45:20.940 knew the

01:45:21.560 same thing.

01:45:22.800 Competition is

01:45:23.660 the enemy.

01:45:24.580 The thing

01:45:24.880 you want to

01:45:25.380 do is

01:45:25.720 vertically

01:45:27.040 integrate

01:45:27.680 as much

01:45:29.540 as possible

01:45:30.000 to completely

01:45:30.500 strangle out

01:45:31.140 the opportunity

01:45:31.720 of others

01:45:32.960 to compete.

01:45:33.720 That's what

01:45:34.200 winning looks

01:45:34.900 like in the

01:45:35.680 system.

01:45:36.220 There isn't

01:45:36.680 really another

01:45:37.240 path to

01:45:37.860 victory.

01:45:38.280 I think

01:45:39.780 as most

01:45:41.080 people

01:45:41.320 understand it

01:45:41.920 and if

01:45:42.180 the state

01:45:42.540 is a useful

01:45:43.000 tool for

01:45:43.460 that or

01:45:44.780 is the

01:45:45.100 dictator of

01:45:45.840 who wins

01:45:46.320 that game

01:45:46.820 then that's

01:45:47.440 the one

01:45:47.780 you have to

01:45:48.400 bend to

01:45:48.980 at the end

01:45:49.540 of the day.

01:45:51.000 Sometimes

01:45:52.040 they get so

01:45:52.820 good at it

01:45:53.300 that you

01:45:53.580 can only

01:45:54.020 just

01:45:54.280 have to

01:45:56.180 sit back

01:45:56.600 and admire

01:45:57.060 them.

01:45:58.660 The example

01:45:59.500 I gave

01:45:59.860 is Amazon

01:46:00.400 and Jeff

01:46:01.960 Bezos.

01:46:03.140 Jeff Bezos

01:46:04.040 I think

01:46:04.680 is basically

01:46:05.640 gamed

01:46:07.520 capitalism

01:46:08.040 to the

01:46:08.360 point

01:46:08.560 where

01:46:08.740 he's

01:46:08.900 just

01:46:09.040 won

01:46:09.300 because

01:46:10.680 Amazon

01:46:11.540 is not

01:46:12.520 only

01:46:13.020 a

01:46:14.580 platform

01:46:15.000 but

01:46:15.660 is

01:46:15.800 also

01:46:16.240 a

01:46:16.660 player

01:46:16.920 in

01:46:17.080 the

01:46:17.160 market.

01:46:18.480 It has

01:46:19.260 more or

01:46:20.480 less

01:46:20.600 perfect

01:46:21.140 information.

01:46:22.260 It can

01:46:22.860 see what

01:46:23.500 everybody's

01:46:23.940 buying

01:46:24.300 through

01:46:25.260 its

01:46:25.460 third

01:46:25.700 party

01:46:25.980 sellers

01:46:26.360 and

01:46:27.440 then

01:46:27.580 if

01:46:27.720 it

01:46:27.840 sees

01:46:28.020 a

01:46:28.160 winner

01:46:28.380 it

01:46:29.300 can

01:46:29.440 then

01:46:29.600 be

01:46:29.740 like

01:46:29.900 we

01:46:30.140 can

01:46:30.300 make

01:46:30.440 that

01:46:30.600 for

01:46:30.740 cheaper.

01:46:31.600 If

01:46:32.160 anything

01:46:33.640 starts

01:46:34.060 to

01:46:34.200 make

01:46:34.420 it

01:46:34.640 Amazon

01:46:34.960 can

01:46:35.200 just

01:46:35.360 step

01:46:35.580 in

01:46:35.720 and

01:46:35.820 do

01:46:35.920 it

01:46:36.000 themselves

01:46:36.340 or

01:46:37.020 they'll

01:46:37.200 just

01:46:37.380 buy

01:46:37.720 the

01:46:37.940 company

01:46:38.260 that's

01:46:38.440 doing

01:46:38.600 well.

01:46:39.380 They

01:46:39.560 have

01:46:39.740 perfect

01:46:40.140 information.

01:46:41.620 I don't

01:46:43.460 want to

01:46:43.560 say

01:46:43.660 they

01:46:43.800 have

01:46:43.900 solved

01:46:44.320 the

01:46:44.480 calculation

01:46:45.200 problem

01:46:45.860 but

01:46:46.180 they

01:46:46.800 managed to

01:46:48.900 create a

01:46:49.200 situation

01:46:49.600 where they

01:46:49.940 can only

01:46:50.400 ever win

01:46:50.840 as long

01:46:51.840 as people

01:46:52.140 use Amazon

01:46:52.640 of course.

01:46:53.040 but

01:46:53.480 which

01:46:54.580 they

01:46:54.820 will

01:46:55.620 and

01:46:55.900 things

01:46:56.440 like

01:46:56.700 the

01:46:56.920 pandemic

01:46:57.340 will

01:46:57.600 continue

01:46:58.000 to

01:46:58.200 assure

01:46:58.440 that

01:46:58.660 they

01:46:59.020 only

01:46:59.600 gain

01:47:00.000 in

01:47:00.140 their

01:47:00.360 market

01:47:01.400 share

01:47:01.700 and

01:47:01.820 their

01:47:01.980 power.

01:47:02.300 When I

01:47:03.100 say

01:47:03.260 perfect

01:47:03.560 information

01:47:04.260 right

01:47:04.780 and

01:47:04.880 what I

01:47:05.100 mean

01:47:05.300 is

01:47:05.620 Amazon

01:47:06.980 has

01:47:07.400 hundreds

01:47:07.880 thousands

01:47:08.420 and

01:47:08.700 thousands

01:47:09.060 of

01:47:09.460 third

01:47:09.740 party

01:47:10.040 sellers

01:47:10.460 who

01:47:11.360 sell

01:47:11.680 goods

01:47:12.100 through

01:47:12.380 Amazon

01:47:12.800 as a

01:47:14.040 platform

01:47:14.520 right

01:47:15.100 Amazon

01:47:16.140 can

01:47:16.480 see

01:47:17.060 all

01:47:17.840 of

01:47:17.960 the

01:47:18.060 data

01:47:18.480 as well

01:47:21.800 as being

01:47:22.180 an

01:47:23.160 online

01:47:24.220 platform

01:47:24.680 they're

01:47:24.880 an

01:47:25.020 analytics

01:47:25.400 company

01:47:25.900 and

01:47:27.180 they

01:47:27.580 get

01:47:28.000 all

01:47:28.320 of

01:47:28.420 the

01:47:28.520 analytics

01:47:28.880 for

01:47:30.220 free

01:47:30.500 they

01:47:31.320 can

01:47:31.440 see

01:47:31.620 it

01:47:31.720 because

01:47:31.820 they

01:47:31.960 are

01:47:32.760 Amazon

01:47:33.120 right

01:47:33.380 they

01:47:33.520 see

01:47:33.840 everything

01:47:34.240 but

01:47:35.600 at

01:47:35.880 the

01:47:36.020 same

01:47:36.240 time

01:47:36.620 they

01:47:37.080 make

01:47:37.380 stuff

01:47:37.680 too

01:47:37.980 and

01:47:38.240 sell

01:47:38.460 it

01:47:38.660 so

01:47:39.960 I

01:47:40.780 don't

01:47:40.880 know

01:47:41.020 let's

01:47:41.280 say

01:47:41.500 I

01:47:41.660 don't

01:47:41.740 know

01:47:41.820 this

01:47:41.940 particular

01:47:42.240 teddy

01:47:42.560 bear

01:47:42.820 is

01:47:42.920 doing

01:47:43.100 well

01:47:43.460 right

01:47:43.940 some

01:47:44.300 guy

01:47:45.540 has

01:47:45.760 started

01:47:45.980 their

01:47:46.160 own

01:47:46.300 company

01:47:46.640 and

01:47:46.760 they

01:47:46.840 started

01:47:47.060 selling

01:47:47.340 teddy

01:47:47.600 bears

01:47:48.480 and

01:47:49.200 they

01:47:49.340 start

01:47:49.940 really

01:47:50.240 taking

01:47:50.520 off

01:47:50.860 Amazon

01:47:51.740 can

01:47:52.020 see

01:47:52.460 thousands

01:47:54.040 millions

01:47:54.360 of

01:47:54.560 people

01:47:54.800 buying

01:47:55.120 this

01:47:55.280 teddy

01:47:55.460 bear

01:47:55.700 they

01:47:57.020 and

01:47:57.480 then

01:47:57.620 they're

01:47:57.760 like

01:47:57.900 well

01:47:58.160 either

01:47:58.540 we

01:47:58.700 can

01:47:58.820 just

01:47:58.960 make

01:47:59.140 them

01:47:59.260 an

01:47:59.380 offer

01:47:59.640 to

01:48:01.140 own

01:48:01.960 the

01:48:02.080 teddy

01:48:02.280 bear

01:48:02.580 business

01:48:03.240 outright

01:48:03.660 or

01:48:04.480 they

01:48:04.600 can

01:48:04.700 just

01:48:04.820 start

01:48:05.000 making

01:48:05.240 their

01:48:05.400 own

01:48:05.560 version

01:48:05.820 of

01:48:05.960 it

01:48:06.160 I

01:48:08.820 mean

01:48:08.920 it's

01:48:09.040 just

01:48:09.160 weird

01:48:09.340 like

01:48:09.520 there's

01:48:09.720 no

01:48:10.080 way

01:48:10.420 that

01:48:10.620 they

01:48:10.760 lose

01:48:11.040 and

01:48:12.000 then

01:48:12.260 you

01:48:12.640 know

01:48:12.820 because

01:48:13.560 they

01:48:13.720 can

01:48:13.920 what

01:48:14.480 I'm

01:48:14.660 saying

01:48:14.920 is

01:48:15.160 they

01:48:15.540 don't

01:48:15.720 have

01:48:15.940 to

01:48:16.060 take

01:48:16.200 the

01:48:16.340 risk

01:48:16.680 of

01:48:17.100 testing

01:48:17.980 goods

01:48:18.300 on

01:48:18.400 the

01:48:18.480 market

01:48:18.780 because

01:48:19.340 other

01:48:19.540 people

01:48:19.800 are

01:48:19.920 doing

01:48:20.080 that

01:48:20.260 for

01:48:20.500 them

01:48:20.760 they

01:48:21.920 all

01:48:22.340 they

01:48:22.500 can

01:48:22.660 see

01:48:22.900 is

01:48:23.020 well

01:48:23.160 that's

01:48:23.580 a

01:48:23.700 winner

01:48:23.900 we'll

01:48:24.480 just

01:48:24.620 replicate

01:48:24.920 the

01:48:25.120 winner

01:48:25.360 and

01:48:26.340 all

01:48:26.460 these

01:48:26.600 people

01:48:26.840 are

01:48:27.020 basically

01:48:27.400 paying

01:48:27.800 them

01:48:28.000 for

01:48:28.140 the

01:48:28.280 privilege

01:48:28.720 of

01:48:29.200 giving

01:48:29.620 them

01:48:29.820 the

01:48:29.960 data

01:48:30.220 that

01:48:30.520 allows

01:48:31.060 them

01:48:31.300 to

01:48:31.600 put

01:48:31.860 them

01:48:32.000 out

01:48:32.120 of

01:48:32.220 business

01:48:32.560 is

01:48:34.080 remarkable

01:48:35.220 yeah

01:48:36.200 yeah

01:48:36.720 so

01:48:38.060 Matty

01:48:38.400 Ice here

01:48:38.720 for $10

01:48:39.100 he says

01:48:39.660 what is

01:48:40.040 the primary

01:48:40.540 method

01:48:40.940 by which

01:48:41.300 the left

01:48:41.520 can

01:48:41.760 obscure

01:48:42.880 how much

01:48:43.700 business

01:48:44.060 operates

01:48:44.680 in its

01:48:45.120 interests

01:48:45.500 and vice

01:48:45.980 versa

01:48:46.400 the

01:48:46.960 three

01:48:47.200 which

01:48:47.460 progressives

01:48:48.100 earnestly

01:48:48.500 think

01:48:48.800 that

01:48:49.060 the

01:48:49.300 our

01:48:49.600 counter

01:48:49.960 culture

01:48:50.400 is

01:48:51.280 a

01:48:51.700 feature

01:48:52.360 i mean

01:48:53.840 i think

01:48:54.240 they

01:48:54.600 did

01:48:55.380 this

01:48:55.600 for as

01:48:55.940 long

01:48:56.140 as

01:48:56.260 it

01:48:56.340 was

01:48:56.460 necessary

01:48:57.100 right

01:48:57.500 like

01:48:57.740 and

01:48:57.940 they

01:48:58.080 still

01:48:58.480 get

01:48:58.620 a lot

01:48:58.840 of

01:48:58.980 cultural

01:48:59.300 momentum

01:48:59.720 out

01:49:00.040 of

01:49:00.180 this

01:49:00.500 by

01:49:01.900 being

01:49:02.340 able

01:49:02.600 to

01:49:02.840 kind

01:49:03.140 of

01:49:03.700 refer

01:49:05.140 to

01:49:05.340 kind

01:49:05.480 of

01:49:05.560 this

01:49:05.700 legacy

01:49:06.080 idea

01:49:06.600 that

01:49:07.600 these

01:49:08.140 companies

01:49:08.540 are

01:49:08.780 all

01:49:09.160 conservative

01:49:09.920 republican

01:49:10.660 whatever

01:49:11.080 of course

01:49:11.740 they also

01:49:12.140 again

01:49:12.460 benefit

01:49:12.940 from

01:49:13.440 the

01:49:13.920 from

01:49:14.620 the

01:49:14.820 ratchet

01:49:15.160 the

01:49:15.380 left

01:49:15.600 cultural

01:49:16.260 ratchet

01:49:16.660 so

01:49:17.040 even

01:49:17.740 if

01:49:18.020 you know

01:49:18.780 apple

01:49:19.180 and

01:49:19.600 you know

01:49:21.300 procter

01:49:21.940 and gamble

01:49:22.280 are declaring

01:49:22.900 their woke

01:49:23.420 bona fides

01:49:24.000 they could

01:49:25.120 still always

01:49:25.900 not be

01:49:26.720 sufficiently

01:49:27.380 left wing

01:49:28.620 right

01:49:28.920 so that

01:49:29.320 what was

01:49:30.000 a conservative

01:49:30.620 company

01:49:31.220 you know

01:49:32.140 20 years

01:49:32.940 ago

01:49:33.360 would now

01:49:34.680 be like

01:49:35.340 a you know

01:49:36.260 a fascist

01:49:36.880 company today

01:49:37.580 at this point

01:49:38.140 right like

01:49:38.540 they're just

01:49:38.880 so far

01:49:40.020 away from

01:49:40.900 from the

01:49:42.180 radical left

01:49:42.960 that any

01:49:44.160 minor

01:49:44.680 lag behind

01:49:46.240 kind of

01:49:46.680 the npc

01:49:47.380 download

01:49:47.840 the latest

01:49:48.440 update

01:49:49.340 will make

01:49:50.120 you

01:49:50.400 conservative

01:49:51.340 by comparison

01:49:52.380 so i think

01:49:52.900 they can

01:49:53.140 keep this

01:49:53.600 up for

01:49:54.060 for a

01:49:54.540 while

01:49:54.900 though there

01:49:55.640 are some

01:49:56.120 people on

01:49:56.580 the left

01:49:56.840 who are

01:49:57.100 kind of

01:49:57.400 disillusioned

01:49:58.100 with this

01:49:58.460 but not

01:49:58.980 enough

01:49:59.280 it's still

01:49:59.740 an amazingly

01:50:00.220 effective

01:50:00.640 thing

01:50:00.980 i mean

01:50:01.740 i don't

01:50:01.960 want to

01:50:02.560 go on

01:50:02.940 too long

01:50:03.360 but i

01:50:03.900 actually

01:50:04.140 i actually

01:50:04.740 disagree

01:50:05.060 with

01:50:05.520 curtis

01:50:07.160 yarvin

01:50:07.500 and various

01:50:07.860 people on

01:50:08.320 this

01:50:08.540 kind of

01:50:09.500 argued

01:50:09.760 about it

01:50:10.080 before

01:50:10.440 i don't

01:50:11.360 think the

01:50:11.640 left is

01:50:11.960 in control

01:50:12.440 i think

01:50:12.760 the left

01:50:13.220 the true

01:50:14.660 left were

01:50:15.460 owned

01:50:16.680 basically

01:50:17.100 they were

01:50:17.300 just like

01:50:18.200 completely

01:50:18.640 humiliated

01:50:19.380 and owned

01:50:20.900 after occupy

01:50:23.840 wall street

01:50:24.380 you know

01:50:25.440 i'm sure

01:50:26.420 you've seen

01:50:26.760 that graph

01:50:27.220 before of

01:50:27.860 the

01:50:28.040 instances of

01:50:28.640 the word

01:50:28.980 racism

01:50:29.800 after 2010

01:50:30.780 you know

01:50:31.320 it just

01:50:31.640 skyrockets

01:50:32.480 i think

01:50:34.000 they've been

01:50:34.480 utterly

01:50:35.040 contained

01:50:35.560 and now

01:50:37.040 they're

01:50:37.480 now

01:50:38.020 committed

01:50:39.080 you know

01:50:40.420 committed

01:50:40.760 marxists 0.93

01:50:41.280 and so

01:50:41.620 on

01:50:41.860 are reduced

01:50:43.100 to cheerleading

01:50:44.240 disney

01:50:44.760 as they

01:50:45.180 groom

01:50:45.540 children

01:50:46.060 i mean

01:50:46.460 you know

01:50:46.860 they have

01:50:47.680 been

01:50:48.060 they're

01:50:50.380 being

01:50:50.580 we

01:50:51.820 we like

01:50:52.400 to say

01:50:52.960 they'll

01:50:54.020 wear your

01:50:54.660 institution

01:50:55.420 as a

01:50:55.740 skin

01:50:55.920 suit

01:50:56.200 right

01:50:56.520 but

01:50:57.480 i also

01:50:58.680 think the

01:50:59.020 left have

01:50:59.420 been worn

01:50:59.780 as a

01:51:00.020 skin

01:51:00.180 suit

01:51:00.460 the true

01:51:00.940 left

01:51:01.260 but

01:51:05.340 because

01:51:06.040 leftists

01:51:06.500 tend to

01:51:06.980 be

01:51:07.100 machiavellian

01:51:07.680 and evil

01:51:08.100 they just

01:51:09.440 like power

01:51:10.000 enough that

01:51:10.420 they'll just

01:51:10.680 run with it

01:51:11.060 anyway

01:51:11.360 you know

01:51:11.920 i'm thinking

01:51:12.220 like

01:51:12.480 vosh types 0.99

01:51:13.100 for example

01:51:13.700 yeah i guess

01:51:15.700 it would

01:51:15.980 we'd have to

01:51:16.520 get deep

01:51:16.940 into like

01:51:17.360 what the

01:51:17.720 left is

01:51:18.220 and break

01:51:18.540 all that

01:51:18.800 down

01:51:19.060 so that

01:51:19.420 that might

01:51:19.840 be

01:51:20.200 too

01:51:20.920 like you

01:51:21.280 said

01:51:21.440 that might

01:51:21.720 go on

01:51:22.020 too long

01:51:22.460 but i

01:51:23.240 do understand

01:51:23.760 your point

01:51:24.140 there

01:51:24.400 there

01:51:24.960 i i would

01:51:25.920 point to

01:51:26.440 sam francis's

01:51:27.680 analysis

01:51:28.160 about kind

01:51:28.980 of the

01:51:29.240 vanguard

01:51:29.800 left

01:51:30.240 being

01:51:30.720 you know

01:51:31.540 basically

01:51:31.860 the

01:51:32.080 managerial

01:51:32.780 elite

01:51:33.520 catching up

01:51:34.040 with the

01:51:34.220 vanguard

01:51:34.480 left

01:51:34.840 and kind

01:51:35.260 of

01:51:35.380 how

01:51:35.920 that

01:51:36.440 has

01:51:36.600 synthesized

01:51:37.140 those

01:51:37.380 two

01:51:37.640 movements

01:51:38.140 but

01:51:38.460 but yeah

01:51:39.680 that may

01:51:40.160 be a topic

01:51:40.820 for another

01:51:41.180 time

01:51:41.460 because that

01:51:41.780 one could

01:51:42.060 go for a

01:51:42.460 while

01:51:42.640 ed for

01:51:44.020 499

01:51:44.560 are there

01:51:45.480 any

01:51:45.740 regional

01:51:46.360 solutions

01:51:47.060 taxing

01:51:47.580 corporate

01:51:47.840 products

01:51:48.320 at the

01:51:48.760 state

01:51:48.940 level

01:51:49.220 to support

01:51:49.780 more

01:51:50.220 local

01:51:50.820 production

01:51:51.460 i've got

01:51:53.300 some

01:51:53.460 thoughts

01:51:53.720 here

01:51:53.920 but

01:51:54.200 regional

01:51:54.780 solutions

01:51:55.520 for

01:51:56.180 for

01:51:56.560 kind

01:51:56.780 of

01:51:56.860 these

01:51:57.020 economic

01:51:57.480 regulations

01:51:58.120 what do

01:51:58.520 you think

01:51:58.800 yeah

01:52:01.280 but it'll

01:52:01.780 it'll only

01:52:02.500 really be

01:52:02.920 small scale

01:52:04.160 and you have

01:52:04.560 to keep it

01:52:04.940 small scale

01:52:05.520 otherwise

01:52:05.860 you start

01:52:07.900 getting all

01:52:08.240 this problem

01:52:08.680 again

01:52:08.980 this is the

01:52:09.860 issue

01:52:10.120 is like

01:52:10.620 there's no

01:52:11.560 scalable

01:52:12.020 solution to

01:52:12.620 this

01:52:12.880 because the

01:52:13.600 issue is

01:52:14.160 the scale

01:52:14.660 is the

01:52:15.240 scale

01:52:15.520 yeah

01:52:15.900 nope

01:52:17.500 i think

01:52:17.800 i think

01:52:18.100 that's

01:52:18.400 that's

01:52:18.700 largely

01:52:18.940 right

01:52:19.340 uh

01:52:20.460 mano

01:52:21.080 sorry

01:52:21.740 i'm going

01:52:22.040 to say

01:52:22.280 this

01:52:22.540 horribly

01:52:22.920 wrong

01:52:23.340 mano

01:52:23.740 falmus

01:52:24.920 uh

01:52:25.780 thank you

01:52:26.200 for your

01:52:26.500 donation

01:52:26.800 yes

01:52:27.100 gutter ballet

01:52:27.700 excellent

01:52:28.320 album

01:52:28.980 if you

01:52:29.360 have not

01:52:29.700 listened

01:52:30.000 to

01:52:30.340 sabotage

01:52:31.280 you should

01:52:32.340 fix that

01:52:32.940 immediately

01:52:33.500 uh

01:52:34.220 excellent

01:52:34.640 band

01:52:35.020 uh

01:52:35.920 evermite

01:52:36.400 here

01:52:36.660 for

01:52:37.080 uh

01:52:37.560 ten

01:52:37.760 ten dollars

01:52:38.640 canadian

01:52:39.020 thank you

01:52:39.400 very much

01:52:39.820 i appreciate

01:52:40.260 it

01:52:40.500 didn't have

01:52:40.860 a

01:52:41.160 question

01:52:41.960 there

01:52:42.140 but i

01:52:42.380 appreciate

01:52:42.700 the

01:52:42.880 donation

01:52:43.280 uh

01:52:44.640 let's

01:52:44.960 see

01:52:45.260 uh

01:52:47.140 machiavellius

01:52:48.140 to go

01:52:48.780 199

01:52:49.420 need a

01:52:49.960 white

01:52:50.300 caesar

01:52:50.680 yeah

01:52:50.960 i mean

01:52:51.200 normally

01:52:51.500 hear people

01:52:52.260 red or

01:52:52.960 blue

01:52:53.220 caesar

01:52:53.600 i think

01:52:54.480 there will

01:52:55.000 probably

01:52:55.480 you know

01:52:56.160 caesarism

01:52:56.760 is the

01:52:57.180 expected

01:52:57.700 uh

01:52:58.220 coming for

01:52:59.000 a lot

01:52:59.520 of a

01:53:00.560 lot of

01:53:00.740 this stuff

01:53:01.280 of people

01:53:01.720 from oswald

01:53:03.080 spangler

01:53:03.680 on to

01:53:04.740 probably

01:53:05.120 curtis

01:53:05.480 yarvin

01:53:05.880 uh

01:53:06.520 you can

01:53:06.740 probably

01:53:06.960 say expect

01:53:07.640 caesar

01:53:07.980 in one

01:53:08.340 one form

01:53:08.840 another

01:53:09.080 so it

01:53:10.020 is the

01:53:10.480 solution

01:53:10.860 that a

01:53:11.240 lot of

01:53:11.460 people

01:53:11.660 think

01:53:12.000 or maybe

01:53:12.820 not the

01:53:13.160 solution

01:53:13.480 but is

01:53:13.860 the inevitable

01:53:14.360 outcome

01:53:14.800 of kind

01:53:15.140 of

01:53:15.240 the situation

01:53:15.820 i mean

01:53:16.080 i'm currently

01:53:17.040 writing my

01:53:17.820 next book

01:53:19.300 which is

01:53:20.060 called

01:53:20.260 prophets of

01:53:20.860 doom

01:53:21.180 which is

01:53:22.000 all about

01:53:22.660 spangler

01:53:23.580 and people

01:53:24.540 like arnold

01:53:25.080 toinby and

01:53:25.940 vico and

01:53:26.880 various other

01:53:27.360 people who

01:53:27.920 have talked

01:53:28.960 about cyclical

01:53:30.080 history and

01:53:30.880 challenged the

01:53:31.500 notion of

01:53:32.300 progress or the

01:53:33.520 myth of

01:53:33.800 progress um

01:53:35.000 one slight

01:53:37.620 black pill i've

01:53:38.680 realized while

01:53:39.300 writing this book

01:53:40.160 is that the

01:53:41.720 age of

01:53:42.260 caesarism may

01:53:43.240 have come

01:53:43.700 and gone

01:53:44.000 already

01:53:44.300 i think

01:53:45.940 so it's

01:53:46.240 like it's

01:53:46.840 like the

01:53:47.160 era of

01:53:47.620 caesarism

01:53:48.460 may have

01:53:49.620 been from

01:53:50.140 napoleon to

01:53:51.120 like the

01:53:52.680 death of

01:53:53.020 stalin

01:53:53.360 say right

01:53:54.920 or the

01:53:55.900 death of

01:53:56.180 franco maybe

01:53:57.000 was the

01:53:57.300 last caesar

01:53:57.820 right

01:53:58.160 because it's

01:54:00.200 meant to be

01:54:00.560 like a

01:54:00.820 200 year

01:54:01.640 block

01:54:02.580 right

01:54:03.320 and then

01:54:04.280 one possible

01:54:05.100 outcome in

01:54:05.680 spangler is

01:54:06.540 just the

01:54:07.800 endless stasis

01:54:08.600 just goes on

01:54:09.280 just goes on

01:54:10.000 for like a

01:54:10.320 really long

01:54:10.720 time

01:54:11.060 right

01:54:11.720 i mean

01:54:13.460 you know

01:54:14.160 just laps

01:54:14.540 into the

01:54:15.160 the

01:54:15.560 think china

01:54:16.800 is one of

01:54:17.220 the

01:54:17.560 yeah he

01:54:18.320 gives china 1.00

01:54:18.800 as an

01:54:19.100 example but

01:54:19.760 like i

01:54:21.020 mean there

01:54:21.320 are there

01:54:21.680 are moments

01:54:22.180 where i've

01:54:22.560 been so

01:54:22.880 black pill

01:54:23.360 right in

01:54:23.640 that book

01:54:24.020 that i

01:54:24.260 just have

01:54:24.600 to like

01:54:24.880 stop and

01:54:25.320 take a

01:54:25.580 walk and

01:54:26.000 things like

01:54:26.460 that but

01:54:26.840 well you

01:54:27.860 are writing

01:54:28.220 a book

01:54:28.500 called

01:54:28.760 prophets

01:54:29.140 of doom

01:54:29.620 so

01:54:29.860 yeah

01:54:30.860 i mean

01:54:32.400 i really

01:54:33.520 hope we

01:54:33.880 don't have

01:54:34.300 that future

01:54:34.780 because

01:54:35.200 yeah

01:54:35.560 me too

01:54:36.020 i can't

01:54:37.280 take another

01:54:37.720 20 years

01:54:38.520 of this

01:54:38.780 especially

01:54:39.500 not at a

01:54:40.020 global scale

01:54:40.760 uh that

01:54:41.340 that's about

01:54:41.800 it's one

01:54:42.460 one thing

01:54:43.100 for it to

01:54:43.480 be a

01:54:44.140 particular

01:54:44.760 civilization

01:54:45.600 somewhere in

01:54:46.060 the globe

01:54:46.300 it's another

01:54:46.660 thing to be

01:54:47.300 the thing

01:54:47.700 that dominates

01:54:48.400 the globe

01:54:48.780 uh let's

01:54:50.520 see uh

01:54:51.120 creep creeper

01:54:52.000 weirdo for

01:54:52.440 five dollars

01:54:52.900 so what was

01:54:53.700 the uh so

01:54:55.180 was this what

01:54:56.100 your last uh

01:54:57.260 ideology video

01:54:58.160 was oh

01:54:59.600 against ideology

01:55:00.480 yes your video

01:55:01.140 about against

01:55:01.760 ideology

01:55:02.380 ideology is

01:55:03.340 this what

01:55:03.740 the video

01:55:04.200 was about

01:55:04.880 uh no

01:55:07.000 no not

01:55:07.620 not really

01:55:08.480 um all i

01:55:10.940 was saying

01:55:11.320 there is that

01:55:12.080 ideology is

01:55:13.200 a function of

01:55:14.920 power in and

01:55:15.460 of itself and

01:55:16.680 if you're not

01:55:17.800 in power

01:55:18.280 um if you're

01:55:20.760 not in power

01:55:21.440 your ideology

01:55:22.820 is just hot

01:55:23.520 air basically

01:55:24.060 the only ideology

01:55:25.280 that actually

01:55:26.640 functions as

01:55:28.400 ideology

01:55:28.940 is um

01:55:31.800 arguments

01:55:32.580 basically that

01:55:33.680 uh justify

01:55:35.560 what power

01:55:36.700 is doing

01:55:37.080 at the

01:55:37.300 moment

01:55:37.640 right

01:55:38.920 um and

01:55:40.960 if you think

01:55:41.640 about most

01:55:42.660 ideologies

01:55:43.300 they come

01:55:44.620 from post hoc

01:55:45.580 rationalization

01:55:46.900 of power

01:55:48.400 or they put it

01:55:49.300 for shorthand

01:55:50.060 uh bsbs 0.98

01:55:52.140 therefore we

01:55:53.040 rule

01:55:53.360 or bsbs

01:55:55.360 therefore our

01:55:56.540 course of

01:55:56.860 action was

01:55:57.280 correct

01:55:57.720 um and uh

01:56:00.480 i mean the

01:56:00.940 arch master of

01:56:01.800 this was uh

01:56:02.560 was tony blair

01:56:03.760 as uh people

01:56:05.300 were sick of

01:56:07.320 me pointing out

01:56:08.000 but uh i mean

01:56:09.200 when he was the

01:56:09.900 prime minister he

01:56:10.780 continually did

01:56:12.600 things and then

01:56:14.200 people would come

01:56:14.880 up with the

01:56:15.180 arguments for why

01:56:15.860 they were done

01:56:16.320 after he'd done

01:56:17.020 them

01:56:17.260 it's like uh

01:56:20.360 it's already

01:56:21.400 happened

01:56:21.800 right

01:56:22.700 right

01:56:23.740 oh here's

01:56:24.700 why

01:56:24.980 and and you

01:56:26.140 actually you

01:56:27.180 see this a lot

01:56:28.200 in the writing

01:56:28.780 style of our

01:56:29.720 opponents

01:56:30.120 um i don't

01:56:31.940 know if you

01:56:32.160 ever read like

01:56:32.760 a vice

01:56:33.360 magazine or

01:56:34.680 uh i can't

01:56:36.940 remember what

01:56:37.400 they're all

01:56:37.720 called now

01:56:38.260 like yeah

01:56:39.160 like slater

01:56:39.980 slater

01:56:40.920 um they're

01:56:42.200 always like

01:56:42.820 they always

01:56:43.460 have the

01:56:43.740 headline

01:56:44.280 blah blah 0.97

01:56:45.140 blah blah 0.97

01:56:45.400 blah here's

01:56:46.760 why

01:56:47.160 yes

01:56:48.220 right

01:56:48.520 here's why

01:56:49.860 well they're

01:56:51.120 basically justifying

01:56:52.240 power nine times

01:56:53.420 out of ten

01:56:53.940 they are coming

01:56:55.680 up with the

01:56:56.260 argument after

01:56:57.740 the fact justify

01:56:58.740 what was done

01:57:00.080 this actually

01:57:00.880 started to happen

01:57:01.580 under trump as

01:57:02.280 well i mean

01:57:03.680 i i would say

01:57:05.240 that 90 percent

01:57:06.320 of discourse

01:57:07.600 in 2018

01:57:08.480 were various

01:57:10.200 commentators

01:57:10.980 post hoc

01:57:12.020 justifying actions

01:57:13.200 that trump had

01:57:13.740 done through

01:57:14.760 4d's 64d

01:57:16.820 chess or

01:57:17.380 whatever it

01:57:17.800 was do you

01:57:18.240 remember all

01:57:18.640 that oh

01:57:19.120 come on bill

01:57:19.660 whittles

01:57:20.020 is a saying

01:57:21.380 it's okay

01:57:21.980 like that's

01:57:22.980 so it's all

01:57:24.400 planned for the

01:57:25.040 top you know

01:57:25.660 this is this

01:57:26.260 patriots are in

01:57:26.900 control like

01:57:27.480 men of action

01:57:28.500 act right or

01:57:29.940 do stuff and

01:57:31.020 then intellectuals

01:57:32.520 like justify what

01:57:33.320 they've done

01:57:33.800 right um

01:57:35.900 what we want

01:57:37.360 our ron is for

01:57:38.120 our guys to be

01:57:38.820 in power

01:57:39.300 right and then

01:57:40.600 we'll be like

01:57:41.260 well here's why

01:57:42.100 ron de santis did

01:57:43.740 this or whatever

01:57:44.620 but we're not

01:57:45.940 we're very very

01:57:46.700 far away from

01:57:47.500 having friends in

01:57:48.300 power

01:57:48.620 de santis first

01:57:49.960 of his name

01:57:50.540 this is this is

01:57:51.400 why he uh

01:57:52.180 right about the

01:57:53.140 the dominion of

01:57:53.880 florida

01:57:54.200 yeah yeah

01:57:55.140 uh all right

01:57:56.180 so pablo here

01:57:57.280 again with pesos

01:57:58.140 thank you very

01:57:58.740 much man

01:57:59.180 appreciate it

01:57:59.880 uh bitcoin

01:58:00.900 question uh

01:58:01.620 oh this is see

01:58:02.300 this is what

01:58:02.760 happens it

01:58:03.300 bitcoin enters

01:58:04.360 the chat and

01:58:04.920 all of a sudden

01:58:05.260 this is the only

01:58:05.660 thing that uh

01:58:06.420 people comment on

01:58:07.360 bitcoiners who

01:58:09.140 are anti other

01:58:10.280 coins and our

01:58:11.880 followers of

01:58:12.520 hans herman

01:58:12.940 have a claim

01:58:13.480 that bitcoin

01:58:13.940 price signal

01:58:14.780 is the only

01:58:15.260 free market

01:58:15.880 uh there is

01:58:17.500 because it's

01:58:17.960 the most

01:58:18.300 decentralized

01:58:18.880 have you

01:58:19.800 looked into

01:58:20.300 this aa

01:58:20.820 no

01:58:21.680 no i i've

01:58:28.600 learned just

01:58:29.000 refusing to go

01:58:29.680 to the bitcoin

01:58:30.260 i just i've

01:58:31.180 just learned

01:58:31.520 over many years

01:58:32.260 don't talk

01:58:32.740 about bitcoin

01:58:33.360 whatever you

01:58:34.560 say about

01:58:34.920 bitcoin you'll

01:58:35.580 be wrong and

01:58:36.200 violently so uh

01:58:37.860 from from

01:58:38.500 whichever side

01:58:39.380 had said it

01:58:39.940 yeah that's been

01:58:40.620 my experience too

01:58:41.600 uh i do my

01:58:42.860 best it's

01:58:43.400 obviously an

01:58:43.940 important thing

01:58:44.640 in some ways but

01:58:45.520 yeah it seems

01:58:46.580 like it's always a

01:58:47.360 losing issue sorry

01:58:49.100 about we don't have

01:58:49.860 a deeper answer for

01:58:51.100 you pablo my 0.83

01:58:51.660 dream is to be

01:58:52.300 around long enough

01:58:53.140 that i'm i start

01:58:54.520 shilling gold

01:58:55.160 there on i will

01:58:55.920 have to

01:58:56.220 eventually one

01:58:57.740 one day one

01:58:58.560 day uh radlib can

01:59:00.260 tell you about the

01:59:01.040 war on gold we

01:59:01.620 had him on just

01:59:02.300 last week for

01:59:03.200 that uh glow in

01:59:04.780 the dark here for

01:59:05.380 two dollars uh

01:59:06.400 most pro

01:59:07.100 capitalist miss 0.96

01:59:08.100 uh attribute cause

01:59:09.660 and effect uh

01:59:11.740 that's true that's

01:59:12.800 probably true of

01:59:13.440 most people uh

01:59:14.420 most of the time

01:59:15.180 but yes there are

01:59:16.080 many more many

01:59:17.520 people who as i've

01:59:19.660 said this this is

01:59:20.240 one of the very

01:59:20.620 first uh videos i

01:59:22.240 made guys and then

01:59:23.100 and i still hold to

01:59:24.020 this uh you know i

01:59:24.840 talked about you

01:59:26.320 know capitalism isn't

01:59:27.220 a suicide pact and

01:59:28.720 this is my the same

01:59:30.360 position i have now

01:59:31.780 capitalism is great

01:59:33.020 when it does great

01:59:35.420 things for your

01:59:36.560 country when it does

01:59:37.460 great things for

01:59:38.100 people when it

01:59:38.640 benefits the lives

01:59:39.820 of the people uh

01:59:41.360 that you're supposed

01:59:41.860 to care about and

01:59:43.100 you know as far as

01:59:43.900 i can tell the

01:59:44.980 system that we call

01:59:45.960 capitalism seems

01:59:47.000 better at doing that

01:59:48.120 than things like you

01:59:49.480 know communism or

01:59:51.080 at least you know

01:59:51.720 the cartoon version

01:59:52.680 of communism that

01:59:53.500 most people are

01:59:54.120 referencing when

01:59:54.720 they're talking

01:59:55.120 about it but that

01:59:57.460 doesn't mean that

01:59:58.160 it's the only that

01:59:59.440 it's good in and

02:00:00.080 of itself capitalism

02:00:01.300 is not a moral good

02:00:02.920 all by its lonesome

02:00:04.160 when it does good

02:00:04.920 things it should be

02:00:05.600 praised and when it

02:00:06.520 creates serious

02:00:07.240 problems for society

02:00:08.420 it has to be

02:00:09.320 acknowledged i think

02:00:10.440 that that's a really

02:00:11.260 difficult thing for a

02:00:12.340 lot of conservatives

02:00:12.880 here but i think it's

02:00:14.220 just the case that

02:00:14.860 doesn't mean i think

02:00:15.700 we should embrace

02:00:16.500 communism or anything

02:00:17.480 i think that's stupid

02:00:18.420 but i don't think it

02:00:19.800 means we should sit

02:00:20.460 there and just be

02:00:21.220 ideologically purity

02:00:23.400 spiraling spiraling

02:00:24.480 about capitalism i don't

02:00:25.500 think that helps

02:00:26.000 either that's a very

02:00:27.200 sensible incentive

02:00:28.220 position yeah we try

02:00:30.040 to keep the

02:00:30.480 sensible sensible

02:00:32.000 center uh always our

02:00:34.060 eye on the sensible

02:00:34.720 center here uh

02:00:35.880 congratulations i'm

02:00:36.700 coining that term by

02:00:37.520 the way it blew up

02:00:38.160 immediately so that

02:00:39.100 was that was great

02:00:40.420 uh ed we you've got

02:00:42.340 my last super chat and

02:00:43.380 for some reason it's

02:00:44.400 not oh there it is

02:00:45.640 found it here we go

02:00:46.940 uh ed says so what

02:00:48.760 a is saying is that

02:00:49.580 amazon perfected what

02:00:51.000 china's been doing for 1.00

02:00:52.340 decades

02:00:52.800 um yeah but they

02:00:56.780 probably did it better

02:00:57.520 than china yeah well 0.70

02:00:59.200 that's what he said

02:00:59.720 perfected yeah so yeah

02:01:01.160 that makes sense yeah i

02:01:02.080 mean yeah

02:01:02.780 yeah all right well

02:01:05.960 thank you guys very

02:01:07.000 much for coming by i

02:01:08.280 know that academic

02:01:09.260 agent has to swing

02:01:10.180 over to on uh

02:01:11.980 unpopular opinions so

02:01:13.060 head over to his

02:01:13.820 channel right now

02:01:15.400 make sure that you buy

02:01:16.680 his book if you

02:01:17.360 haven't already

02:01:18.340 populist delusion it's

02:01:19.680 a great book uh thank

02:01:21.120 you all so much for

02:01:22.220 coming by had a huge

02:01:23.520 audience really

02:01:24.320 appreciate everybody

02:01:25.400 good questions and of

02:01:27.380 course academic agent

02:01:28.620 thank you so much for

02:01:29.320 coming on man

02:01:29.860 yeah we're actually

02:01:31.940 going to be discussing

02:01:32.740 a bit of uh i don't

02:01:34.280 know if i'll call it

02:01:34.860 drama but we're going

02:01:35.620 to be discussing the

02:01:36.720 um peter hitchens versus

02:01:39.200 saga never cared

02:01:40.320 showdown on twitter this

02:01:42.400 week uh which has been

02:01:43.800 i mean i don't know

02:01:45.220 about you but i find it

02:01:46.300 all a bit sad to be

02:01:47.200 honest because i it is

02:01:48.760 very sad yeah i want to

02:01:50.420 like hitchens um and

02:01:52.340 it's it's very sad to

02:01:53.340 see him be so short

02:01:54.580 sided in his

02:01:55.200 interactions uh that's a

02:01:58.060 big shame all right

02:02:00.060 thanks a lot for

02:02:00.900 having me are on

02:02:01.540 buy populist delusion

02:02:03.160 buy my courses buy it

02:02:04.520 now shill shill shill

02:02:06.040 shill yes uh

02:02:07.300 capitalism no no yeah

02:02:12.660 all right guys thank

02:02:15.060 you so much for coming

02:02:15.900 by and as always we'll

02:02:17.740 talk to you next time

The Auron MacIntyre Show - January 03, 2023

The Myth of the Free Market？｜ Guest： Academic Agent ｜ 1⧸3⧸23

Episode Stats

Summary

Transcript

The Auron MacIntyre Show - January 03, 2023

The Myth of the Free Market？ ｜ Guest： Academic Agent ｜ 1⧸3⧸23

Episode Stats

Summary

Transcript

The Myth of the Free Market？｜ Guest： Academic Agent ｜ 1⧸3⧸23